Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Acquired by Earnest Partners LLC

Earnest Partners LLC grew its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,276,414 shares of the oil and gas exploration company’s stock after purchasing an additional 151,056 shares during the quarter. Earnest Partners LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $49,834,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PBR. Raymond James & Associates grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 18.2% in the fourth quarter. Raymond James & Associates now owns 89,860 shares of the oil and gas exploration company’s stock valued at $1,435,000 after purchasing an additional 13,849 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Petróleo Brasileiro S.A. – Petrobras by 19.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 69,561 shares of the oil and gas exploration company’s stock worth $1,111,000 after acquiring an additional 11,344 shares during the last quarter. Fermata Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth approximately $164,000. Clarus Wealth Advisors acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth approximately $221,000. Finally, Ballentine Partners LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth approximately $177,000.

Wall Street Analysts Forecast Growth

PBR has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.20 to $17.70 in a research report on Wednesday, May 15th. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.56.

Petróleo Brasileiro S.A. – Petrobras Stock Down 1.9 %

PBR stock traded down $0.28 during mid-day trading on Monday, hitting $14.19. 15,302,938 shares of the company were exchanged, compared to its average volume of 18,664,785. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.81. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $13.18 and a twelve month high of $17.91. The firm has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $15.73.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.09). The company had revenue of $23.77 billion for the quarter, compared to analyst estimates of $24.63 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. During the same period in the prior year, the business earned $1.11 earnings per share. Equities research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.43 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

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

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.