Independent Financial Group LLC Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Independent Financial Group LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 88,277 shares of the oil and gas exploration company’s stock, valued at approximately $1,832,000.

Several other large investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 55.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 11,680 shares in the last quarter. Focus Partners Wealth increased its position 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 buying an additional 1,356 shares in the last quarter. Cresset Asset Management LLC increased its position 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 buying an additional 5,624 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% in 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 during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% in 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 during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on PBR. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.70 to $24.80 in a research note on Friday, April 17th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. decreased 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 research note on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Petroleo Brasileiro S.A.- Petrobras stock opened at $17.98 on Monday. The firm has a market capitalization of $115.85 billion, a P/E ratio of 5.84, a PEG ratio of 0.79 and a beta of 0.33. The stock has a fifty day moving average price of $18.03 and a 200 day moving average price of $17.50. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $22.24. 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 issued its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. The firm had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%. 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 business also recently disclosed 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 is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 11.04%.

About Petroleo Brasileiro S.A.- Petrobras

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.