Edgestream Partners L.P. Trims Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Edgestream Partners L.P. trimmed its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 23.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,733 shares of the oil and gas exploration company’s stock after selling 6,121 shares during the period. Edgestream Partners L.P.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quantbot Technologies LP raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 35.1% in the second quarter. Quantbot Technologies LP now owns 246,178 shares of the oil and gas exploration company’s stock valued at $3,567,000 after buying an additional 63,910 shares during the last quarter. Poehling Capital Management INC. raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 8.0% in the second quarter. Poehling Capital Management INC. now owns 173,665 shares of the oil and gas exploration company’s stock valued at $2,516,000 after buying an additional 12,799 shares during the last quarter. Retirement Planning Co of New England Inc. raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 6.5% in the second quarter. Retirement Planning Co of New England Inc. now owns 23,023 shares of the oil and gas exploration company’s stock valued at $334,000 after buying an additional 1,410 shares during the last quarter. D Orazio & Associates Inc. raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 9.7% in the second quarter. D Orazio & Associates Inc. now owns 15,803 shares of the oil and gas exploration company’s stock valued at $229,000 after buying an additional 1,396 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $198,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on PBR shares. The Goldman Sachs Group cut their price target on shares of 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. UBS Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Finally, Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.58 on Tuesday. 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 quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $14.68 and a two-hundred day moving average of $15.09.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $23.47 billion during 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 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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