Moran Wealth Management LLC Sells 35,510 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Moran Wealth Management LLC decreased its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 663,955 shares of the oil and gas exploration company’s stock after selling 35,510 shares during the quarter. Moran Wealth Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $10,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% during the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after purchasing an additional 10,425,563 shares during the period. Oaktree Capital Management LP bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $126,355,000. DJE Kapital AG bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $65,428,000. DNB Asset Management AS bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter valued at approximately $21,778,000. Finally, Mondrian Investment Partners LTD lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after buying an additional 1,562,473 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PBR shares. JPMorgan Chase & Co. cut their price objective on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE PBR opened at $17.89 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The stock has a market capitalization of $115.26 billion, a P/E ratio of 4.52, a P/E/G ratio of 0.73 and a beta of 0.33. The company’s 50-day moving average is $17.63 and its 200 day moving average is $18.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.49.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 8.59%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.