Petroleo Brasileiro S.A.- Petrobras $PBR Shares Bought by SeaBridge Investment Advisors LLC

Key Points

• SeaBridge Investment Advisors LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 26.6% during the second quarter, now holding 116,031 shares valued at approximately $1.45 million.
• Petrobras reported $0.64 earnings per share for the last quarter, missing the consensus estimate of $0.70, while its revenue was $21.04 billion, surpassing analyst expectations.
• The company announced a special dividend of $0.0739 per share to be paid on December 30th, with a payout ratio of 48.13%.

SeaBridge Investment Advisors LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 26.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,031 shares of the oil and gas exploration company's stock after buying an additional 24,392 shares during the period. SeaBridge Investment Advisors LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $1,452,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. GQG Partners LLC increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 8.0% in the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company's stock valued at $3,672,458,000 after buying an additional 18,862,848 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $148,086,000. ARGA Investment Management LP grew its position in Petroleo Brasileiro S.A.- Petrobras by 0.3% during the 1st quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company's stock worth $158,258,000 after purchasing an additional 38,312 shares in the last quarter. Carrhae Capital LLP purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $64,765,000. Finally, Artemis Investment Management LLP grew its position in Petroleo Brasileiro S.A.- Petrobras by 30.2% during the 1st quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company's stock worth $56,052,000 after purchasing an additional 905,800 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.2%

Shares of NYSE PBR opened at $13.08 on Friday. The company's 50 day simple moving average is $12.52 and its 200 day simple moving average is $12.42. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.34. The firm has a market capitalization of $84.29 billion, a P/E ratio of 6.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share 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 during the quarter, compared to analyst estimates of $20.78 billion. On average, analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PBR shares. UBS Group lowered their price objective 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 cut shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a 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 analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.43.

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.

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