International Assets Investment Management LLC Invests $157,000 in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

International Assets Investment Management LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,858 shares of the oil and gas exploration company’s stock, valued at approximately $157,000.

A number of other institutional investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $217,000. Nations Financial Group Inc. IA ADV raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 4.5% in the second quarter. Nations Financial Group Inc. IA ADV now owns 34,942 shares of the oil and gas exploration company’s stock valued at $506,000 after acquiring an additional 1,497 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 19.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,936 shares of the oil and gas exploration company’s stock valued at $564,000 after acquiring an additional 6,255 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at $32,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 30.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 15,698 shares of the oil and gas exploration company’s stock valued at $227,000 after acquiring an additional 3,690 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PBR shares. The Goldman Sachs Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and lowered their target price for the company from $21.20 to $17.70 in a research note on Wednesday, May 15th. UBS Group lowered their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research note on Monday, August 19th. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $20.00 in a research note on Monday, August 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.63.

Petróleo Brasileiro S.A. – Petrobras Stock Down 0.3 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $15.23 on Monday. The company has a 50-day simple moving average of $14.68 and a 200-day simple moving average of $15.37. The firm has a market capitalization of $99.33 billion, a P/E ratio of 4.43, a P/E/G ratio of 0.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $23.47 billion during the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. As a group, equities analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a dividend yield of 15.4%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 25.00%.

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.