Ashton Thomas Private Wealth LLC Acquires New Shares in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Ashton Thomas Private Wealth LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,080 shares of the oil and gas exploration company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its stake in Petróleo Brasileiro S.A. – Petrobras by 9.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 31,392 shares of the oil and gas exploration company’s stock valued at $501,000 after buying an additional 2,650 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 16.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,892 shares of the oil and gas exploration company’s stock valued at $222,000 after buying an additional 1,979 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at $206,000. Dynamic Technology Lab Private Ltd purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at $365,000. Finally, Assetmark Inc. raised its stake in Petróleo Brasileiro S.A. – Petrobras by 7.6% during the 4th quarter. Assetmark Inc. now owns 532,179 shares of the oil and gas exploration company’s stock valued at $8,499,000 after buying an additional 37,724 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PBR. UBS Group decreased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research note on Monday, August 19th. The Goldman Sachs Group reduced their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Finally, Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE:PBR opened at $14.78 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. The firm has a 50 day moving average of $14.73 and a 200 day moving average of $15.16.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. Equities research analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 23rd. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a dividend yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 25.00%.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.