Checchi Capital Advisers LLC Reduces Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Checchi Capital Advisers LLC lowered its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,866 shares of the oil and gas exploration company’s stock after selling 1,598 shares during the period. Checchi Capital Advisers LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $311,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Financial Gravity Asset Management Inc. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $34,000. Redwood Park Advisors LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company’s stock worth $53,000 after acquiring an additional 1,810 shares during the last quarter. Finally, City Holding Co. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at $97,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “neutral” rating in a research report on Monday, June 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Saturday, September 27th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. Finally, UBS Group decreased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and an average price target of $15.43.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.4%

Shares of PBR stock opened at $12.35 on Tuesday. The firm’s 50-day simple moving average is $12.53 and its 200-day simple moving average is $12.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.34. The firm has a market cap of $79.59 billion, a P/E ratio of 5.77 and a beta of 0.86.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.06). The company had revenue of $21.04 billion for the quarter, compared to analyst estimates of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. As a group, equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, August 25th will be issued a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 48.13%.

Petroleo 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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.