Petroleo Brasileiro S.A.- Petrobras $PBR Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 30.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 699,465 shares of the oil and gas exploration company’s stock after acquiring an additional 164,421 shares during the quarter. Moran Wealth Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $14,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Baer Investment Advisory LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $437,000. Canal Capital Management LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $208,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $472,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 95.5% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 552,365 shares of the oil and gas exploration company’s stock valued at $11,462,000 after buying an additional 269,803 shares in the last quarter. Finally, Keybank National Association OH purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $337,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their price objective for the company from $20.30 to $19.00 in a research note on Friday, March 13th. JPMorgan Chase & Co. dropped their price objective on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of “Moderate Buy” and a consensus price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR opened at $16.11 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The company’s 50 day simple moving average is $18.79 and its 200 day simple moving average is $17.07. The company has a market capitalization of $103.79 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 0.64 and a beta of 0.33. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. The firm had revenue of $23.54 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. On average, sell-side analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.72 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 Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 11.04%.

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.