Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1,052.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,127 shares of the oil and gas exploration company’s stock after acquiring an additional 35,732 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 16.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,892 shares of the oil and gas exploration company’s stock worth $222,000 after buying an additional 1,979 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $365,000. SageView Advisory Group LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth about $706,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 27.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 69,580 shares of the oil and gas exploration company’s stock valued at $1,111,000 after acquiring an additional 15,038 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth $218,758,000.

Analyst Upgrades and Downgrades

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

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.58 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The stock’s 50-day moving average is $14.68 and its 200 day moving average is $15.09.

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

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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