Annex Advisory Services LLC Raises Stock Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Annex Advisory Services LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 2.1%, owning nearly 1.86 million shares valued at approximately $23.23 million as of the latest SEC filing.
• Several large investors recently adjusted their positions in Petrobras, with significant increases from firms like GQG Partners LLC, which raised its holdings by 8%, owning over 256 million shares.
• The company reported earnings of $0.64 per share for the latest quarter, missing expectations, and announced a special dividend of $0.0739 per share to be paid on December 30th.

Annex Advisory Services LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,856,898 shares of the oil and gas exploration company's stock after purchasing an additional 38,340 shares during the period. Annex Advisory Services LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $23,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Perpetual Ltd raised its position in Petroleo Brasileiro S.A.- Petrobras by 1.5% in the 2nd quarter. Perpetual Ltd now owns 3,261,657 shares of the oil and gas exploration company's stock worth $40,803,000 after buying an additional 48,400 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth $148,086,000. Krilogy Financial LLC grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 8.8% during the second quarter. Krilogy Financial LLC now owns 19,815 shares of the oil and gas exploration company's stock worth $248,000 after purchasing an additional 1,600 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at approximately $140,000. Finally, Salem Investment Counselors Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 8.4% during the second quarter. Salem Investment Counselors Inc. now owns 564,661 shares of the oil and gas exploration company's stock valued at $7,065,000 after acquiring an additional 43,750 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PBR shares. Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a research note on Thursday. 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 target on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has an average rating of "Moderate Buy" and an average target price of $16.14.

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

Petroleo Brasileiro S.A.- Petrobras stock traded up $0.12 during mid-day trading on Monday, hitting $12.74. The company's stock had a trading volume of 17,689,062 shares, compared to its average volume of 20,964,379. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.34. The stock's fifty day moving average is $12.45 and its two-hundred day moving average is $12.41. The firm has a market capitalization of $82.07 billion, a PE ratio of 5.95 and a beta of 0.91. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.06). The firm had revenue of $21.04 billion for the quarter, compared to analysts' expectations of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. 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 company also recently declared a special dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, August 25th will be paid a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is currently 47.66%.

About Petroleo Brasileiro S.A.- Petrobras

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.