Lumbard & Kellner LLC Has $6.24 Million Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Lumbard & Kellner LLC lowered its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure 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 quarter. Petróleo Brasileiro S.A. – Petrobras makes up about 2.9% of Lumbard & Kellner LLC’s portfolio, making the stock its 9th biggest position. Lumbard & Kellner LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $6,239,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in 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 bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at approximately $32,000. Nisa Investment Advisors LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth approximately $35,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $45,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $14.78 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The stock’s 50-day simple moving average is $14.73 and its 200-day simple 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 EPS for the quarter, hitting 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 return on equity of 28.42% and a net margin of 16.17%. As a group, sell-side analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently declared a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be issued a $0.165 dividend. This represents a yield of 15.4%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 25.00%.

Wall Street Analyst Weigh In

PBR has been the topic of a number of analyst reports. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the company from $16.80 to $17.90 in a report on Thursday, June 27th. UBS Group cut their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. The Goldman Sachs Group decreased 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 research report on Tuesday, August 13th. Finally, Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 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 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.