Traynor Capital Management Inc. Buys Shares of 11,668 Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Traynor Capital Management Inc. bought a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,668 shares of the oil and gas exploration company’s stock, valued at approximately $177,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $218,758,000. RWC Asset Advisors US LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 20.2% during the fourth quarter. RWC Asset Advisors US LLC now owns 6,811,783 shares of the oil and gas exploration company’s stock worth $108,784,000 after buying an additional 1,145,021 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the third quarter worth about $62,049,000. Victory Capital Management Inc. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 11.8% during the fourth quarter. Victory Capital Management Inc. now owns 3,896,244 shares of the oil and gas exploration company’s stock worth $62,223,000 after buying an additional 411,905 shares during the period. Finally, Perpetual Ltd acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter worth about $56,337,000.

Analyst Ratings Changes

PBR has been the subject of a number of research analyst reports. Bank of America cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Friday, March 8th. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, March 25th. UBS Group raised their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research report on Monday, March 11th. Finally, Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.20 to $17.70 in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.33.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $14.35 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 1.08. The firm’s fifty day simple moving average is $15.57 and its 200 day simple moving average is $15.89. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $13.02 and a twelve month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.09). The business had revenue of $23.77 billion for the quarter, compared to analyst estimates of $24.63 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 22.46% and a return on equity of 31.07%. During the same quarter in the previous year, the firm posted $1.11 EPS. As a group, research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.54 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, June 13th will be paid a dividend of $0.0288 per share. This represents a yield of 16%. The ex-dividend date of this dividend is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 26.45%.

Petróleo Brasileiro S.A. – Petrobras Company Profile

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