Teachers Retirement System of The State of Kentucky Cuts Stake in Petroleo Brasileiro S.A.- Petrobras $PBR

Teachers Retirement System of The State of Kentucky lessened its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 17.8% in the 1st quarter, Holdings Channel reports. The fund owned 1,618,030 shares of the oil and gas exploration company’s stock after selling 351,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $33,574,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $12,175,000. Kathmere Capital Management LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 15.2% during the first quarter. Kathmere Capital Management LLC now owns 40,900 shares of the oil and gas exploration company’s stock worth $849,000 after purchasing an additional 5,404 shares in the last quarter. DGS Capital Management LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 6.4% in the first quarter. DGS Capital Management LLC now owns 25,604 shares of the oil and gas exploration company’s stock valued at $531,000 after purchasing an additional 1,537 shares during the period. Ascentis Independent Advisors acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $51,000. Finally, Oxbow Advisors LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.7% in the 1st quarter. Oxbow Advisors LLC now owns 450,479 shares of the oil and gas exploration company’s stock valued at $9,347,000 after purchasing an additional 32,343 shares in the last quarter.

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

NYSE:PBR opened at $17.32 on Monday. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $18.36 and a 200-day simple moving average of $17.29. The company has a market capitalization of $111.63 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 0.76 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The firm had revenue of $23.54 billion for the quarter. On average, equities research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.28 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be given a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 11.04%.

Wall Street Analysts Forecast Growth

PBR has been the topic of several recent analyst reports. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. reduced their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, June 3rd. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Finally, Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.