Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY raised its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 10.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 275,000 shares of the oil and gas exploration company’s stock after acquiring an additional 25,000 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $4,183,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PBR. Artisan Partners Limited Partnership acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth $218,758,000. RWC Asset Advisors US LLC raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 20.2% during the 4th quarter. RWC Asset Advisors US LLC now owns 6,811,783 shares of the oil and gas exploration company’s stock worth $108,784,000 after buying an additional 1,145,021 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $62,049,000. Victory Capital Management Inc. raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 11.8% during the 4th quarter. Victory Capital Management Inc. now owns 3,896,244 shares of the oil and gas exploration company’s stock worth $62,223,000 after buying an additional 411,905 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth $56,337,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR opened at $14.35 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 1.08. The business has a 50-day moving average of $15.57 and a two-hundred day moving average of $15.89. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $13.02 and a 12 month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a net margin of 22.46% and a return on equity of 31.07%. The business had revenue of $23.77 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter last year, the firm earned $1.11 EPS. Sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.54 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.0288 per share. This represents a dividend yield of 16%. The ex-dividend date is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 26.45%.

Analysts Set New Price Targets

PBR has been the subject of several research reports. Jefferies Financial Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and cut their price target for the stock from $21.20 to $17.70 in a research note on Wednesday, May 15th. Morgan Stanley cut Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $18.00 in a research report on Monday, March 11th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, March 25th. UBS Group lifted their price objective on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras has an average rating of “Hold” and a consensus price target of $16.33.

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.