Legacy Wealth Asset Management LLC Sells 3,446 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Legacy Wealth Asset Management LLC lowered its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,486 shares of the oil and gas exploration company’s stock after selling 3,446 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $570,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth $45,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $54,000. Founders Capital Management boosted its position in Petróleo Brasileiro S.A. – Petrobras by 17.5% during the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 700 shares during the last quarter. Kapitalo Investimentos Ltda grew its stake in Petróleo Brasileiro S.A. – Petrobras by 782.4% in the fourth quarter. Kapitalo Investimentos Ltda now owns 6,936 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 6,150 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at approximately $121,000.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.7 %

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.65 on Friday. The company’s 50 day moving average price is $15.27 and its two-hundred day moving average price is $15.85. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $13.02 and a fifty-two week high of $17.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 1.08.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). The business 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 quarter last year, the firm posted $1.11 EPS. On average, equities analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.46 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

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

Wall Street Analysts Forecast Growth

PBR has been the subject of a number of recent analyst reports. Morgan Stanley cut shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a research note on Monday, March 11th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday, March 25th. Jefferies Financial Group cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and cut their price objective for the company from $21.20 to $17.70 in a research report on Wednesday, May 15th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. Finally, UBS Group raised their price target on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.56.

Petróleo Brasileiro S.A. – Petrobras 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.