Assetmark Inc. Trims Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Assetmark Inc. trimmed its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRFree Report) by 43.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,455 shares of the oil and gas exploration company’s stock after selling 372,656 shares during the period. Assetmark Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $7,412,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Petróleo Brasileiro S.A. – Petrobras by 83.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,169 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth $41,000. Janiczek Wealth Management LLC increased its stake in Petróleo Brasileiro S.A. – Petrobras by 49.9% in the 3rd quarter. Janiczek Wealth Management LLC now owns 2,756 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 918 shares in the last quarter. Harbour Investments Inc. purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter worth $29,000. Finally, Federated Hermes Inc. increased its stake in Petróleo Brasileiro S.A. – Petrobras by 34.3% in the 1st quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock worth $50,000 after buying an additional 861 shares in the last quarter. Hedge funds and other institutional investors own 11.57% of the company’s stock.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.6 %

Shares of NYSE:PBR opened at $16.36 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $9.56 and a 12 month high of $16.79. The company has a 50-day moving average price of $15.54 and a 200 day moving average price of $14.86. The company has a market cap of $105.98 billion, a price-to-earnings ratio of 3.97 and a beta of 1.55.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Free Report) last announced its quarterly earnings results on Friday, November 10th. The oil and gas exploration company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.04). Petróleo Brasileiro S.A. – Petrobras had a net margin of 25.48% and a return on equity of 35.31%. The business had revenue of $25.55 billion during the quarter, compared to the consensus estimate of $27.46 billion. As a group, equities research analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.85 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, November 24th will be issued a $0.243 dividend. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.94%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 35.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Petróleo Brasileiro S.A. – Petrobras in a research note on Thursday, September 21st. They issued a “buy” rating and a $21.20 price target for the company. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Finally, StockNews.com raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.96.

Get Our Latest Stock Report on PBR

Petróleo Brasileiro S.A. – Petrobras Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Receive News & Ratings for Petróleo Brasileiro S.A. - Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petróleo Brasileiro S.A. - Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.