Foster & Motley Inc. Sells 6,765 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Foster & Motley Inc. lowered its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,157 shares of the oil and gas exploration company’s stock after selling 6,765 shares during the period. Foster & Motley Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $2,538,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 1,468 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at about $32,000. Nisa Investment Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $35,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth about $54,000. Finally, SYSTM Wealth Solutions LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 210.6% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 3,998 shares of the oil and gas exploration company’s stock valued at $61,000 after acquiring an additional 2,711 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on PBR. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $20.00 in a report on Monday, August 26th. The Goldman Sachs Group dropped their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.20 to $17.70 in a research note on Wednesday, May 15th. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. Finally, UBS Group reduced their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.0 %

Shares of NYSE:PBR opened at $15.02 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company’s 50-day moving average is $14.74 and its 200 day moving average is $15.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The firm had revenue of $23.47 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Equities analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be given a $0.165 dividend. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 25.00%.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.