Opal Capital LLC Purchases 40,920 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Opal Capital LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 14.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,600 shares of the oil and gas exploration company’s stock after acquiring an additional 40,920 shares during the period. Petroleo Brasileiro S.A.- Petrobras makes up approximately 1.2% of Opal Capital LLC’s holdings, making the stock its 23rd biggest holding. Opal Capital LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,901,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at $26,000. Clearstead Advisors LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,044 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth $51,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $54,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $18.09 on Wednesday. The stock has a market cap of $116.61 billion, a PE ratio of 5.88, a P/E/G ratio of 0.79 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The company has a 50-day moving average price of $17.78 and a 200 day moving average price of $17.84. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion during the quarter. Equities research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.28 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be issued a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 11.04%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PBR. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered 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 note on Wednesday, June 3rd. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Finally, Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.28.

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.