Matthews International Capital Management LLC Sells 4,120 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Matthews International Capital Management LLC decreased its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 14.7% in the 2nd quarter, Holdings Channel reports. The firm owned 23,829 shares of the oil and gas exploration company’s stock after selling 4,120 shares during the quarter. Matthews International Capital Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $298,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $34,000. Redwood Park Advisors LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 95.6% during the 1st quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company’s stock worth $53,000 after purchasing an additional 1,810 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at about $97,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.4%

Petroleo Brasileiro S.A.- Petrobras stock opened at $12.40 on Friday. The firm has a market capitalization of $79.88 billion, a price-to-earnings ratio of 5.79 and a beta of 0.86. The firm’s fifty day moving average price is $12.54 and its two-hundred day moving average price is $12.40. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.34. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. The company had revenue of $21.04 billion during the quarter, compared to analysts’ expectations of $20.78 billion. On average, equities research analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.0739 per share. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 48.13%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group decreased their target price on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a research note on Friday, August 22nd. Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. Bank of America lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “neutral” rating in a research note on Monday, June 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.43.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.