Petroleo Brasileiro S.A.- Petrobras $PBR is Breakout Capital Partners LP's 6th Largest Position

Key Points

• Breakout Capital Partners reduced its Petrobras stake by 15.5% in the second quarter, selling 183,200 shares. It still held 999,389 shares worth approximately $16.15 million, representing 8.6% of its portfolio and its sixth-largest position.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $19.48. JPMorgan recently raised its target to $24 and assigned an Overweight rating.
• Petrobras declared a special dividend of $0.2649 per share, payable December 1 to shareholders of record as of August 25. The stock opened at $20.15 and has traded between $11.43 and $22.24 over the past year.

Breakout Capital Partners LP decreased its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 999,389 shares of the oil and gas exploration company's stock after selling 183,200 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras comprises 8.6% of Breakout Capital Partners LP's investment portfolio, making the stock its 6th largest holding. Breakout Capital Partners LP's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $16,150,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Inspire Investing LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 8.8% in the first quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company's stock valued at $147,000 after purchasing an additional 574 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% during the first quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company's stock worth $501,000 after buying an additional 696 shares during the period. Drum Hill Capital LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the first quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company's stock worth $2,746,000 after buying an additional 714 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% during the fourth quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company's stock worth $388,000 after buying an additional 829 shares during the last quarter. Finally, Ascent Group LLC increased its position in Petroleo Brasileiro S.A.- Petrobras by 5.9% in the 2nd quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company's stock valued at $254,000 after acquiring an additional 868 shares during the period.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Finally, JPMorgan Chase & Co. boosted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Moderate Buy" and an average price target of $19.48.

Petroleo Brasileiro S.A.- Petrobras Stock Down 1.8%

PBR stock opened at $20.15 on Friday. The stock has a market capitalization of $129.85 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32. The company has a fifty day moving average of $18.17 and a 200-day moving average of $18.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Petroleo Brasileiro S.A.- Petrobras Profile

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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