Petroleo Brasileiro S.A.- Petrobras $PBR Stake Increased by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 23.8%, holding a total of 298,508 shares valued at approximately $3.73 million.
• The company plans to pay a special dividend of $0.0739 per share on December 30th, with a dividend payout ratio of 48.13%.
• Despite reporting earnings per share of $0.64 for the last quarter, Petrobras missed analyst expectations of $0.70, but reported a revenue of $21.04 billion, exceeding estimates of $20.78 billion.

Morningstar Investment Management LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 23.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 298,508 shares of the oil and gas exploration company's stock after purchasing an additional 57,437 shares during the period. Petroleo Brasileiro S.A.- Petrobras accounts for 0.3% of Morningstar Investment Management LLC's portfolio, making the stock its 28th biggest position. Morningstar Investment Management LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $3,734,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TrueMark Investments LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $2,678,000. Salem Investment Counselors Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 8.4% during the 2nd 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 purchasing an additional 43,750 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $29,984,000. Banco Santander S.A. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 15.2% during the 1st quarter. Banco Santander S.A. now owns 155,244 shares of the oil and gas exploration company's stock valued at $2,226,000 after purchasing an additional 20,462 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $148,086,000.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR opened at $11.82 on Tuesday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $15.10. The company has a 50-day moving average of $12.45 and a two-hundred day moving average of $12.28. The stock has a market cap of $76.14 billion, a price-to-earnings ratio of 5.52 and a beta of 0.86. 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 announced its 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). 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, equities research analysts expect 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 company also recently announced a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be issued a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 48.13%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PBR. UBS Group reduced their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a research report on Friday, August 22nd. Weiss Ratings restated a "hold (c-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 8th. 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, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of "Moderate Buy" and a consensus price target 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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