Congress Wealth Management LLC DE Acquires 54,041 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Congress Wealth Management LLC DE lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Rating) by 84.4% in the second quarter, Holdings Channel.com reports. The fund owned 118,053 shares of the oil and gas exploration company’s stock after purchasing an additional 54,041 shares during the period. Congress Wealth Management LLC DE’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBR. J.Safra Asset Management Corp increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 1,364.7% in the 2nd quarter. J.Safra Asset Management Corp now owns 3,032 shares of the oil and gas exploration company’s stock worth $27,000 after buying an additional 2,825 shares in the last quarter. Baldwin Brothers LLC MA purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $35,000. CoreCap Advisors LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $40,000. Founders Capital Management increased its stake in Petróleo Brasileiro S.A. – Petrobras by 250.0% in the 2nd quarter. Founders Capital Management now owns 3,500 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Optimum Investment Advisors increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 33.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas exploration company’s stock valued at $47,000 after purchasing an additional 1,000 shares during the last quarter. 11.74% of the stock is owned by hedge funds and other institutional investors.

Petróleo Brasileiro S.A. – Petrobras Stock Down 0.2 %

Shares of NYSE PBR opened at $10.14 on Thursday. The company has a market capitalization of $66.13 billion, a price-to-earnings ratio of 1.95, a price-to-earnings-growth ratio of 0.96 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 0.78. The business has a 50-day moving average of $13.09 and a two-hundred day moving average of $13.26. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $9.56 and a 1 year high of $16.32.

Analysts Set New Price Targets

Several brokerages have weighed in on PBR. Itaú Unibanco cut Petróleo Brasileiro S.A. – Petrobras to a “market perform” rating and set a $14.50 target price for the company. in a report on Tuesday, August 30th. Credit Suisse Group lowered Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $16.00 in a report on Monday, October 17th. StockNews.com upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. JPMorgan Chase & Co. downgraded Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $14.00 in a research report on Monday, October 31st. Finally, UBS Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.26.

About Petróleo Brasileiro S.A. – Petrobras

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Petróleo Brasileiro SA – Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. It 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.

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

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