586,761 Shares in Petroleo Brasileiro S.A.- Petrobras $PBR Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter, acquiring 586,761 shares valued at about $12.2 million.
• Several other institutional investors also increased their positions in Petrobras, while analyst sentiment has been mixed but overall leans positive, with a consensus rating of “Moderate Buy” and an average target price of $19.28.
• Petrobras recently traded up 3.1% and reported solid quarterly results, including $0.96 EPS and revenue of $23.54 billion; it also announced a special dividend of $0.1426 per share.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 586,761 shares of the oil and gas exploration company's stock, valued at approximately $12,175,000.

Other institutional investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 15.2% in the 1st quarter. Kathmere Capital Management LLC now owns 40,900 shares of the oil and gas exploration company's stock worth $849,000 after acquiring an additional 5,404 shares during the last quarter. DGS Capital Management LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 6.4% during the first quarter. DGS Capital Management LLC now owns 25,604 shares of the oil and gas exploration company's stock valued at $531,000 after acquiring an additional 1,537 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at about $51,000. Oxbow Advisors LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 7.7% during the first quarter. Oxbow Advisors LLC now owns 450,479 shares of the oil and gas exploration company's stock worth $9,347,000 after purchasing an additional 32,343 shares during the period. Finally, Moran Wealth Management LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 30.7% during the first quarter. Moran Wealth Management LLC now owns 699,465 shares of the oil and gas exploration company's stock worth $14,514,000 after purchasing an additional 164,421 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. 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. JPMorgan Chase & Co. lowered their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. Finally, Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Trading Up 3.1%

NYSE:PBR opened at $17.86 on Tuesday. The company has a 50-day moving average price of $18.27 and a 200-day moving average price of $17.33. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month 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. The stock has a market cap of $115.13 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of 0.76 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last announced its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The firm had revenue of $23.54 billion for the quarter. Equities analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras's payout ratio is presently 11.04%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.