Frank Rimerman Advisors LLC Takes $439,000 Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Frank Rimerman Advisors LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,055 shares of the oil and gas exploration company’s stock, valued at approximately $439,000.

Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 20.0% during the 1st quarter. Bank of New York Mellon Corp now owns 81,110 shares of the oil and gas exploration company’s stock worth $1,163,000 after purchasing an additional 13,508 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 20.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 21,989 shares of the oil and gas exploration company’s stock worth $315,000 after buying an additional 3,700 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $146,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 28.0% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 150,414 shares of the oil and gas exploration company’s stock valued at $2,157,000 after buying an additional 32,863 shares during the period. Finally, Redwood Park Advisors LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company’s stock valued at $53,000 after acquiring an additional 1,810 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR opened at $13.04 on Thursday. The stock has a market cap of $84.00 billion, a P/E ratio of 6.09 and a beta of 0.83. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $15.10. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $12.40 and a 200 day simple moving average of $12.32.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Thursday, November 6th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. The business had revenue of $23.48 billion for the quarter, compared to analyst estimates of $125.50 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. On average, research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, February 27th. Investors of record on Friday, December 26th will be paid a $0.1773 dividend. The ex-dividend date of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 32.41%.

Analysts Set New Price Targets

Several brokerages have commented on PBR. 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 research report on Friday, August 22nd. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Monday. 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.90.

About Petroleo Brasileiro S.A.- Petrobras

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.