Moran Wealth Management LLC Increases Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Moran Wealth Management LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 18.0% during the fourth quarter, Holdings Channel reports. The fund owned 535,044 shares of the oil and gas exploration company’s stock after purchasing an additional 81,567 shares during the quarter. Moran Wealth Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Annex Advisory Services LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 5.7% during the fourth quarter. Annex Advisory Services LLC now owns 2,108,579 shares of the oil and gas exploration company’s stock worth $24,987,000 after acquiring an additional 114,311 shares during the last quarter. Abbington Investment Group increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 8.1% during the fourth quarter. Abbington Investment Group now owns 309,572 shares of the oil and gas exploration company’s stock worth $3,668,000 after acquiring an additional 23,099 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth about $77,000. Baker Ellis Asset Management LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth about $213,000. Finally, Provident Living Financial Services Inc. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth about $1,047,000.

Analysts Set New Price Targets

PBR has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and lowered their price objective for the company from $20.30 to $19.00 in a report on Friday, March 13th. UBS Group boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a report on Wednesday, January 14th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Down 5.0%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $20.43 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 0.76. The firm has a market cap of $131.66 billion, a P/E ratio of 6.72, a P/E/G ratio of 0.17 and a beta of 0.37. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $22.05. The business has a 50-day moving average price of $18.47 and a 200 day moving average price of $14.62.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings data on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share for the quarter. The firm had revenue of $23.61 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%. On average, sell-side analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Investors of record on Friday, April 24th will be issued a $0.1191 dividend. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 11.51%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo 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.