Claro Advisors LLC Boosts Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Claro Advisors LLC grew its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,731 shares of the oil and gas exploration company’s stock after buying an additional 2,100 shares during the period. Claro Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PBR. Sound Income Strategies LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth $45,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth $54,000. Founders Capital Management increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 17.5% in the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock worth $71,000 after acquiring an additional 700 shares during the period. Kapitalo Investimentos Ltda increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 782.4% in the fourth quarter. Kapitalo Investimentos Ltda now owns 6,936 shares of the oil and gas exploration company’s stock worth $111,000 after acquiring an additional 6,150 shares during the period. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth $121,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE PBR opened at $14.55 on Wednesday. The company’s 50-day simple moving average is $15.40 and its 200-day simple moving average is $15.87. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $13.02 and a 52-week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $24.63 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. During the same period in the prior year, the business posted $1.11 earnings per share. Sell-side analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.46 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PBR shares. Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. UBS Group increased their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research note on Monday, March 25th. Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and cut their price objective for the stock from $21.20 to $17.70 in a research note on Wednesday, May 15th. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday, March 25th. Finally, Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.56.

Petróleo Brasileiro S.A. – Petrobras 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.