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

Moran Wealth Management LLC reduced its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 2.2% in the 2nd quarter. HighTower Advisors LLC now owns 180,932 shares of the oil and gas exploration company’s stock worth $2,924,000 after buying an additional 3,881 shares during the last quarter. Bridgewater Advisors Inc. grew its position in Petroleo Brasileiro S.A.- Petrobras by 10.1% during the second quarter. Bridgewater Advisors Inc. now owns 15,868 shares of the oil and gas exploration company’s stock valued at $256,000 after acquiring an additional 1,452 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 102.5% during the second quarter. Janney Montgomery Scott LLC now owns 101,435 shares of the oil and gas exploration company’s stock valued at $1,639,000 after acquiring an additional 51,351 shares during the last quarter. Ascent Group LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 5.9% during the second quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company’s stock worth $254,000 after acquiring an additional 868 shares in the last quarter. Finally, Annex Advisory Services LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 2.4% during the second quarter. Annex Advisory Services LLC now owns 2,182,965 shares of the oil and gas exploration company’s stock worth $35,277,000 after acquiring an additional 50,612 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR opened at $17.89 on Friday. The stock’s 50 day simple moving average is $17.63 and its 200 day simple 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 has a 1 year low of $11.43 and a 1 year high of $22.24. The firm has a market cap of $115.26 billion, a price-to-earnings ratio of 4.52, a PEG ratio of 0.73 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Analyst Ratings Changes

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

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo 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.