Petroleo Brasileiro S.A.- Petrobras $PBR Stock Position Decreased by Parkwood LLC

Key Points

• Parkwood LLC reduced its stake in Petroleo Brasileiro S.A.- Petrobras by 12.3% during the first quarter, holding 463,851 shares valued at approximately $6.65 million after selling 65,265 shares.
• Multiple institutional investors made adjustments in their positions regarding Petrobras, with notable new stakes purchased, including $97,000 by City Holding Co. and 95.6% increase by Redwood Park Advisors LLC.
• Analysts have varied ratings for the stock, with two analysts issuing a Strong Buy rating and an average price target of $16.14, despite recent price adjustments from some research firms.

Parkwood LLC reduced its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463,851 shares of the oil and gas exploration company's stock after selling 65,265 shares during the quarter. Parkwood LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company's stock valued at $471,000 after purchasing an additional 11,680 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.9% in the 1st quarter. Clark Capital Management Group Inc. now owns 2,217,527 shares of the oil and gas exploration company's stock valued at $31,799,000 after purchasing an additional 287,837 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $838,000. Federation des caisses Desjardins du Quebec increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 1.4% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 112,406 shares of the oil and gas exploration company's stock valued at $1,613,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $9,376,000.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.9%

Shares of Petroleo Brasileiro S.A.- Petrobras stock traded up $0.11 during trading on Tuesday, reaching $12.35. The company had a trading volume of 19,657,496 shares, compared to its average volume of 18,113,676. The firm's fifty day moving average is $12.48 and its 200-day moving average is $12.46. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.34. The company has a market cap of $79.59 billion, a price-to-earnings ratio of 5.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.47 and a current ratio of 0.72.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%.The firm had revenue of $21.04 billion for the quarter, compared to the consensus estimate of $20.78 billion. On average, analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, August 25th will be given a dividend of $0.0739 per share. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is currently 48.13%.

Analyst Ratings Changes

PBR has been the subject of several recent research reports. Jefferies Financial Group raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective for the company in a research report on Thursday, May 15th. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Bank of America cut shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. Finally, UBS Group decreased their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $16.14.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA - Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.