Opal Capital LLC Makes New $3.46 Million Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Opal Capital LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 291,680 shares of the oil and gas exploration company’s stock, valued at approximately $3,456,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after acquiring an additional 11,680 shares in the last quarter. Focus Partners Wealth raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock worth $296,000 after acquiring an additional 1,356 shares in the last quarter. Cresset Asset Management LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock worth $201,000 after acquiring an additional 5,624 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 797.8% during the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock worth $235,000 after acquiring an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 35.0% during the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock worth $674,000 after acquiring an additional 13,988 shares in the last quarter.

Wall Street Analysts Forecast Growth

PBR has been the topic of several analyst reports. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.70 to $24.80 in a report on Friday, April 17th. 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. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.30 to $19.00 in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on 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. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Petroleo Brasileiro S.A.- Petrobras stock opened at $17.06 on Wednesday. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The stock’s 50 day moving average is $19.95 and its 200-day moving average is $16.74. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $109.93 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.69 and a beta of 0.32.

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 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The company had revenue of $23.54 billion for the quarter. Equities research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Petroleo Brasileiro S.A.- Petrobras Profile

Petro?leo 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.