Truist Financial Corp Has $1.17 Million Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Truist Financial Corp lessened its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 2.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 80,883 shares of the oil and gas exploration company’s stock after selling 1,737 shares during the quarter. Truist Financial Corp’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,172,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 1,468 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $32,000. Nisa Investment Advisors LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $35,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $45,000.

Analyst Upgrades and Downgrades

Several research firms have commented on PBR. Bank of America raised shares of 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. The Goldman Sachs Group decreased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a report on Tuesday, August 13th. 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 on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their target price for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Finally, Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.20.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.74 on Monday. 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 firm’s 50 day moving average is $14.77 and its 200 day moving average is $15.10. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. Sell-side analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.36 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently announced a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be given a dividend of $0.165 per share. 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 dividend payout ratio (DPR) is currently 34.68%.

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.