Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is Lumbard & Kellner LLC’s 9th Largest Position

Lumbard & Kellner LLC reduced its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,542 shares of the oil and gas exploration company’s stock after selling 3,828 shares during the period. Petróleo Brasileiro S.A. – Petrobras accounts for 2.9% of Lumbard & Kellner LLC’s portfolio, making the stock its 9th biggest holding. Lumbard & Kellner LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $6,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PBR. EverSource Wealth Advisors LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock valued at $27,000 after purchasing an additional 1,468 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $32,000. Nisa Investment Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in 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 valued at approximately $45,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PBR shares. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. 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 research report on Tuesday, August 13th. UBS Group dropped their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Up 1.7 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $14.78 on Tuesday. 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 has a 1-year low of $12.90 and a 1-year high of $17.91. The company’s 50-day moving average is $14.73 and its 200 day moving average is $15.16.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share 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 the consensus estimate of $24.22 billion. Equities research analysts anticipate 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 business also recently declared 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 is Friday, August 23rd. This is a boost 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 presently 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.