Seven Eight Capital LP Sells 244,254 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Seven Eight Capital LP cut its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 76.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,801 shares of the oil and gas exploration company’s stock after selling 244,254 shares during the quarter. Seven Eight Capital LP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 2.4% during the first quarter. Checchi Capital Advisers LLC now owns 26,509 shares of the oil and gas exploration company’s stock valued at $403,000 after acquiring an additional 615 shares in the last quarter. Founders Capital Management increased its stake in Petróleo Brasileiro S.A. – Petrobras by 17.5% during the 1st quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 700 shares in the last quarter. Whittier Trust Co. raised its holdings 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 worth $663,000 after buying an additional 725 shares during the last quarter. Financial Security Advisor Inc. lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 5.2% in the first quarter. Financial Security Advisor Inc. now owns 17,590 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 865 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 15.5% during the first quarter. Toronto Dominion Bank now owns 7,226 shares of the oil and gas exploration company’s stock valued at $110,000 after buying an additional 970 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. 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. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.80 to $17.90 in a report on Thursday, June 27th. Finally, The Goldman Sachs Group decreased their price target on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Petróleo Brasileiro S.A. – Petrobras stock opened at $14.39 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The company’s 50 day moving average price is $14.69 and its two-hundred day moving average price is $15.13. 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 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. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The company had revenue of $23.47 billion during the quarter, compared to the consensus estimate of $24.22 billion. On average, research analysts predict 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 announced a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.165 per share. This represents a dividend yield of 15.4%. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 25.00%.

Petróleo 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 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.