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

Foster & Motley Inc. decreased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,157 shares of the oil and gas exploration company’s stock after selling 6,765 shares during the quarter. Foster & Motley Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PBR. Checchi Capital Advisers LLC raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 26,509 shares of the oil and gas exploration company’s stock valued at $403,000 after purchasing an additional 615 shares during the period. M&T Bank Corp lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% in the fourth quarter. M&T Bank Corp now owns 26,091 shares of the oil and gas exploration company’s stock worth $417,000 after buying an additional 661 shares in the last quarter. Founders Capital Management boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 17.5% in the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 700 shares during the period. Whittier Trust Co. grew its stake in Petróleo Brasileiro S.A. – Petrobras by 1.7% during the first quarter. Whittier Trust Co. now owns 43,569 shares of the oil and gas exploration company’s stock valued at $663,000 after acquiring an additional 725 shares in the last quarter. Finally, Financial Security Advisor Inc. increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 5.2% during the 1st quarter. Financial Security Advisor Inc. now owns 17,590 shares of the oil and gas exploration company’s stock worth $268,000 after acquiring an additional 865 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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 report on Thursday, June 27th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. UBS Group decreased their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and dropped their price target for the company from $21.20 to $17.70 in a research report on Wednesday, May 15th. Finally, The Goldman Sachs Group decreased their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and an average target price of $17.63.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $15.02 on Friday. The business’s 50-day moving average price is $14.74 and its 200-day moving average price is $15.33. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70.

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

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

Petróleo Brasileiro S.A. – Petrobras Profile

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.