Petroleo Brasileiro S.A.- Petrobras $PBR Shares Bought by Ping Capital Management Inc.

Key Points

• Ping Capital Management Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 179.8% in the second quarter, acquiring an additional 151,000 shares, bringing its total to 235,000 shares.
• Several analysts have lowered their price targets for the stock, with UBS Group reducing its target from $15.80 to $14.40, while Zacks Research downgraded it from "strong-buy" to "hold."
• Petrobras declared a special dividend of $0.0739 per share, which will be paid on December 30th, impacting its payout ratio of 48.13%.

Ping Capital Management Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 179.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,000 shares of the oil and gas exploration company's stock after buying an additional 151,000 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up 0.7% of Ping Capital Management Inc.'s holdings, making the stock its 15th biggest position. Ping Capital Management Inc.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,940,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PBR. Financial Gravity Asset Management Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $34,000. Redwood Park Advisors LLC grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock valued at $53,000 after purchasing an additional 1,810 shares during the period. Finally, City Holding Co. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $97,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 18th. Finally, Bank of America lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.43.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock opened at $12.44 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The firm's 50-day moving average is $12.54 and its two-hundred day moving average is $12.41. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $15.34. The company has a market capitalization of $80.15 billion, a PE ratio of 5.81 and a beta of 0.86.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.06). The company had revenue of $21.04 billion during the quarter, compared to analysts' expectations of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. Analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Petroleo Brasileiro S.A.- Petrobras 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.

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