Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by Capital Wealth Planning LLC

Capital Wealth Planning LLC trimmed its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 21.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 226,981 shares of the oil and gas exploration company’s stock after selling 63,119 shares during the period. Capital Wealth Planning LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $3,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Poehling Capital Management INC. raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 8.0% during the second quarter. Poehling Capital Management INC. now owns 173,665 shares of the oil and gas exploration company’s stock worth $2,516,000 after purchasing an additional 12,799 shares during the period. Retirement Planning Co of New England Inc. increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 6.5% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 23,023 shares of the oil and gas exploration company’s stock worth $334,000 after acquiring an additional 1,410 shares during the period. D Orazio & Associates Inc. increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 9.7% in the 2nd quarter. D Orazio & Associates Inc. now owns 15,803 shares of the oil and gas exploration company’s stock worth $229,000 after acquiring an additional 1,396 shares during the period. Choreo LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth about $198,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth about $30,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PBR. The Goldman Sachs Group dropped their price objective 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. 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 research note on Monday, August 26th. UBS Group lowered 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 research note on Monday, August 19th. Finally, 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 research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $14.53 on Monday. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.90 and a twelve month high of $17.91. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $14.74 and a 200-day moving average of $15.18. The firm has a market cap of $94.77 billion, a price-to-earnings ratio of 4.22, a price-to-earnings-growth ratio of 0.17 and a beta of 1.40.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The company had revenue of $23.47 billion during the quarter, compared to analyst estimates of $24.22 billion. Analysts forecast 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 company also recently announced 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 dividend yield of 15.4%. This is a boost 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 (DPR) is presently 25.00%.

About Petróleo Brasileiro S.A. – Petrobras

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.