RWC Asset Advisors US LLC Reduces Stock Position in Petroleo Brasileiro S.A.- Petrobras $PBR

RWC Asset Advisors US LLC lessened its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 68.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,518,583 shares of the oil and gas exploration company’s stock after selling 3,224,940 shares during the period. Petroleo Brasileiro S.A.- Petrobras accounts for 3.1% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 11th biggest position. RWC Asset Advisors US LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $19,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBR. Abbington Investment Group purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $3,627,000. Moran Wealth Management LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 3.5% during the third quarter. Moran Wealth Management LLC now owns 453,477 shares of the oil and gas exploration company’s stock valued at $5,741,000 after buying an additional 15,430 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 8.1% during the third quarter. Park Avenue Securities LLC now owns 18,283 shares of the oil and gas exploration company’s stock valued at $231,000 after acquiring an additional 1,364 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 17.6% in the third quarter. Kathmere Capital Management LLC now owns 39,942 shares of the oil and gas exploration company’s stock valued at $506,000 after acquiring an additional 5,976 shares in the last quarter. Finally, Brave Asset Management Inc. increased its position in Petroleo Brasileiro S.A.- Petrobras by 47.1% during the 3rd quarter. Brave Asset Management Inc. now owns 23,239 shares of the oil and gas exploration company’s stock valued at $294,000 after purchasing an additional 7,446 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.0%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $11.89 on Tuesday. The company has a 50-day simple moving average of $12.28 and a two-hundred day simple moving average of $12.35. The stock has a market capitalization of $76.59 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of 0.25 and a beta of 0.51. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $14.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings results on Friday, November 7th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. Petroleo Brasileiro S.A.- Petrobras had a net margin of 16.15% and a return on equity of 23.32%. On average, analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, December 26th will be issued a dividend of $0.0658 per share. The ex-dividend date of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 21.76%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PBR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. Wall Street Zen downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.90.

About Petroleo Brasileiro S.A.- Petrobras

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.