Bank of New York Mellon Corp Raises Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Bank of New York Mellon Corp boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,632 shares of the oil and gas exploration company’s stock after acquiring an additional 10,355 shares during the quarter. Bank of New York Mellon Corp’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $2,197,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PBR. Artisan Partners Limited Partnership purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at approximately $218,758,000. Artemis Investment Management LLP grew its position in Petróleo Brasileiro S.A. – Petrobras by 27.7% during the first quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock valued at $95,452,000 after buying an additional 1,362,108 shares during the period. Perpetual Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter worth about $56,337,000. Earnest Partners LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 4.8% during the 1st quarter. Earnest Partners LLC now owns 3,276,414 shares of the oil and gas exploration company’s stock worth $49,834,000 after acquiring an additional 151,056 shares in the last quarter. Finally, Norden Group LLC grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 3,457.9% during the 1st quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock valued at $44,403,000 after acquiring an additional 2,837,247 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of 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 firm’s fifty day moving average is $14.73 and its two-hundred day moving average is $15.16. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The company had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Equities 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 declared a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be issued a $0.165 dividend. This represents a dividend yield of 15.4%. The ex-dividend date is Friday, August 23rd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 25.00%.

Wall Street Analyst Weigh In

PBR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on 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. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $20.00 in a research report on Monday, August 26th. UBS Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Bank of America upgraded shares of 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. One investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Petróleo Brasileiro S.A. – Petrobras 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.