Wellington Management Group LLP Has $9.56 Million Stock Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Wellington Management Group LLP reduced its stake in Petroleo Brasileiro S.A.- Petrobras by 3.3%, now holding 666,763 shares valued at approximately $9.56 million.
• Petrobras reported a missed earnings estimate of $0.64 EPS for the quarter, falling short of the consensus estimate of $0.70.
• The company recently announced a dividend payment of $0.2471 per share, representing a yield of 1,750.0%, set to be paid on December 1st.

Wellington Management Group LLP lowered its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 666,763 shares of the oil and gas exploration company's stock after selling 22,701 shares during the quarter. Wellington Management Group LLP's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $9,561,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Morningstar Investment Management LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 0.5% in the first quarter. Morningstar Investment Management LLC now owns 241,071 shares of the oil and gas exploration company's stock worth $3,457,000 after purchasing an additional 1,169 shares in the last quarter. Vise Technologies Inc. boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 5.1% in the fourth quarter. Vise Technologies Inc. now owns 33,916 shares of the oil and gas exploration company's stock worth $436,000 after purchasing an additional 1,633 shares in the last quarter. Redwood Park Advisors LLC boosted its stake in 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 worth $53,000 after purchasing an additional 1,810 shares in the last quarter. Poehling Capital Management INC. boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 0.8% in the fourth quarter. Poehling Capital Management INC. now owns 228,299 shares of the oil and gas exploration company's stock worth $2,936,000 after purchasing an additional 1,870 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 3.6% in the first quarter. SeaCrest Wealth Management LLC now owns 58,125 shares of the oil and gas exploration company's stock worth $834,000 after purchasing an additional 2,012 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PBR shares. Bank of America lowered Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. UBS Group decreased their price objective on 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. Jefferies Financial Group upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective for the company in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $16.14.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE PBR traded up $0.05 during midday trading on Friday, hitting $12.41. The company had a trading volume of 19,647,320 shares, compared to its average volume of 22,619,596. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.50. The firm has a 50-day moving average price of $12.50 and a 200-day moving average price of $12.57. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $79.94 billion, a PE ratio of 5.80 and a beta of 0.85.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued 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 the consensus estimate of $0.70 by ($0.06). The business had revenue of $21.04 billion during the quarter, compared to the consensus estimate of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. As a group, analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed 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 currently 48.13%.

Petroleo Brasileiro S.A.- Petrobras Company 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.