Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. trimmed its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,690 shares of the oil and gas exploration company’s stock after selling 1,180 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Artisan Partners Limited Partnership acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $218,758,000. Mondrian Investment Partners LTD lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after purchasing an additional 1,889,313 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 27.7% in the 1st quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock valued at $95,452,000 after purchasing an additional 1,362,108 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after purchasing an additional 1,039,700 shares during the period. Finally, Perpetual Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 1st quarter valued at $56,337,000.

Analyst Ratings Changes

Several research firms recently issued reports on PBR. UBS Group decreased their target price 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 note on Monday, August 19th. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. The Goldman Sachs Group reduced their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR opened at $14.40 on Friday. The stock’s 50-day moving average price is $14.69 and its 200 day moving average price is $15.12. 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 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 posted its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The firm had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. As a group, research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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