Matthews International Capital Management LLC Has $298,000 Stake in Petroleo Brasileiro S.A.- Petrobras $PBR

Matthews International Capital Management LLC trimmed its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 14.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,829 shares of the oil and gas exploration company’s stock after selling 4,120 shares during the period. Matthews International Capital Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PBR. SeaCrest Wealth Management LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 3.6% during the first quarter. SeaCrest Wealth Management LLC now owns 58,125 shares of the oil and gas exploration company’s stock worth $834,000 after buying an additional 2,012 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $169,000. City Holding Co. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $97,000. Salem Investment Counselors Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 22.1% during the first quarter. Salem Investment Counselors Inc. now owns 520,911 shares of the oil and gas exploration company’s stock worth $7,470,000 after buying an additional 94,165 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 31.3% during the first quarter. Hennessy Advisors Inc. now owns 398,900 shares of the oil and gas exploration company’s stock worth $5,720,000 after buying an additional 95,100 shares in the last quarter.

Analyst Ratings Changes

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

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

Shares of NYSE PBR opened at $12.40 on Friday. The company has a 50 day simple moving average of $12.54 and a 200 day simple moving average of $12.40. The firm has a market cap of $79.88 billion, a PE ratio of 5.79 and a beta of 0.86. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.34. 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 (NYSE:PBR) last issued its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). The business had revenue of $21.04 billion during the quarter, compared to the consensus estimate of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. On average, research 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 firm also recently disclosed 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 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.