NS Partners Ltd Sells 487,400 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• NS Partners Ltd cut its Petrobras stake by 62.1% in the second quarter, selling 487,400 shares and retaining 297,413 shares valued at approximately $4.8 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $19.28 target price, despite mixed calls ranging from “strong sell” to “buy.”
• Petrobras declared a special dividend of $0.2649 per share, payable December 1 to shareholders of record as of August 25.

NS Partners Ltd lessened its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 62.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 297,413 shares of the oil and gas exploration company's stock after selling 487,400 shares during the period. NS Partners Ltd's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $4,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBR. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the second quarter worth $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $12,175,000. Oxbow Advisors LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at about $4,955,000. The Manufacturers Life Insurance Company bought a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $2,074,000. Finally, Independent Financial Group LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $1,832,000.

Analyst Ratings Changes

PBR has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Finally, Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $19.34 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The firm has a 50 day moving average price of $17.86 and a 200-day moving average price of $18.60. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The firm has a market capitalization of $124.63 billion, a price-to-earnings ratio of 4.88, a PEG ratio of 0.73 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 10.86%.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil's energy sector and is a listed public company with global capital market presence.

Petrobras's core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil's coast.

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