12,080 Shares in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the 3rd quarter, HoldingsChannel reports. The fund purchased 12,080 shares of the oil and gas exploration company’s stock, valued at approximately $174,000.

Several other institutional investors have also recently made changes to their positions in PBR. Mondrian Investment Partners LTD lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after purchasing an additional 1,889,313 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at $73,174,000. Victory Capital Management Inc. grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% during the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after buying an additional 1,039,700 shares during the last quarter. Earnest Partners LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 4.8% during the first quarter. Earnest Partners LLC now owns 3,276,414 shares of the oil and gas exploration company’s stock worth $49,834,000 after acquiring an additional 151,056 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 0.9% in the 3rd quarter. Perpetual Ltd now owns 3,152,289 shares of the oil and gas exploration company’s stock worth $45,424,000 after acquiring an additional 29,267 shares during the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR opened at $14.12 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The firm has a 50-day moving average of $14.28 and a 200 day moving average of $14.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.67 and a current ratio of 0.94. The firm has a market cap of $92.09 billion, a P/E ratio of 5.52, a PEG ratio of 0.21 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, December 27th will be issued a $0.227 dividend. This represents a dividend yield of 16.3%. The ex-dividend date is Friday, December 27th. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 38.67%.

Analysts Set New Price Targets

A number of research firms have issued reports on PBR. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $20.00 in a research report on Monday, August 26th. UBS Group cut their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group boosted their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.24.

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 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.