Petroleo Brasileiro S.A.- Petrobras $PBR Shares Sold by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of the State of Kentucky cut its Petrobras stake by 17.8% in the first quarter, selling 351,000 shares and leaving it with 1,618,030 shares valued at about $33.6 million.
• Petrobras reported Q1 earnings of $0.96 per share on revenue of $23.54 billion, with a net margin of 21.67% and return on equity of 23.65%. Analysts expect the company to earn $4.28 per share for the full year.
• The company announced a special dividend of $0.1426 per share, payable August 27 to shareholders of record on June 3. On the analyst side, views are mixed but lean positive, with a consensus rating of Moderate Buy and a $19.28 price target.

Teachers Retirement System of The State of Kentucky lessened its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 17.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,618,030 shares of the oil and gas exploration company's stock after selling 351,000 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $33,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth about $26,000. Clearstead Advisors LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company's stock valued at $28,000 after buying an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock valued at $30,000 after buying an additional 1,044 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at $39,000. Finally, Ascentis Independent Advisors acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $51,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.0%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $17.32 on Monday. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. The company has a market capitalization of $111.63 billion, a P/E ratio of 5.62, a PEG ratio of 0.76 and a beta of 0.33. The company's fifty day moving average is $18.36 and its two-hundred day moving average is $17.29.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last announced its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion during the quarter. Analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.28 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently announced a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be paid a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is 11.04%.

Analyst Upgrades and Downgrades

PBR has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, May 12th. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Sunday, March 22nd. Finally, Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and raised their price target for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.28.

About Petroleo Brasileiro S.A.- Petrobras

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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