Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stake Lowered by Oaktree Fund Advisors LLC

Oaktree Fund Advisors LLC lessened its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 10.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 476,414 shares of the oil and gas exploration company’s stock after selling 55,778 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras comprises about 6.5% of Oaktree Fund Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Oaktree Fund Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $6,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PBR. Checchi Capital Advisers LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 2.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 26,509 shares of the oil and gas exploration company’s stock valued at $403,000 after buying an additional 615 shares in the last quarter. Founders Capital Management increased its stake 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 worth $71,000 after acquiring an additional 700 shares during the last quarter. MAS Advisors LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 5.0% during the second quarter. MAS Advisors LLC now owns 15,108 shares of the oil and gas exploration company’s stock valued at $219,000 after purchasing an additional 720 shares during the period. Whittier Trust Co. lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 1.7% in the 1st quarter. Whittier Trust Co. now owns 43,569 shares of the oil and gas exploration company’s stock valued at $663,000 after purchasing an additional 725 shares during the last quarter. Finally, Financial Security Advisor Inc. boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 5.2% in the 1st quarter. Financial Security Advisor Inc. now owns 17,590 shares of the oil and gas exploration company’s stock worth $268,000 after purchasing an additional 865 shares during the period.

Analysts Set New Price Targets

Several research firms recently weighed in on PBR. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $20.00 in a report on Monday, August 26th. The Goldman Sachs Group lowered their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a report on Tuesday, August 13th. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.80 to $17.90 in a report on Thursday, June 27th. Finally, UBS Group decreased their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average price target of $18.07.

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

NYSE PBR opened at $14.39 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The company’s 50-day moving average price is $14.69 and its 200-day moving average price is $15.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its 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. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The business had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. As a group, sell-side analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.165 per share. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a yield of 15.4%. 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.