Independent Financial Group LLC Takes $1.83 Million Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Independent Financial Group LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 88,277 shares of the oil and gas exploration company’s stock, valued at approximately $1,832,000.

Several other large investors have also made changes to their positions in the company. Capital International Investors grew its position in Petroleo Brasileiro S.A.- Petrobras by 51.6% during the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after acquiring an additional 10,425,563 shares during the period. ARGA Investment Management LP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% in the 4th quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock worth $224,856,000 after purchasing an additional 166,472 shares during the period. Mondrian Investment Partners LTD raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 14.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after purchasing an additional 1,562,473 shares during the period. Earnest Partners LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 9.5% in the 4th quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock valued at $63,224,000 after purchasing an additional 462,889 shares in the last quarter. Finally, Perpetual Ltd lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the 4th quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock valued at $39,262,000 after purchasing an additional 18,100 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE PBR opened at $17.98 on Monday. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $22.24. The business has a 50-day moving average of $18.03 and a 200-day moving average of $17.50. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. The company has a market capitalization of $115.85 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.79 and a beta of 0.33.

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

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Shareholders 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 currently 11.04%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PBR shares. 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. JPMorgan Chase & Co. cut their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, June 3rd. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of “Moderate Buy” and an average target price 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.