Accordant Advisory Group Inc Acquires 50,921 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Accordant Advisory Group increased its Petrobras stake by 35.7% in the third quarter, purchasing 50,921 additional shares and bringing its total holdings to 193,740 shares valued at approximately $4.04 million.
• Petrobras was trading at $22.06, with a $142.16 billion market capitalization and a low price-to-earnings ratio of 5.57. The company also declared a special dividend of $0.2649 per share.
• Analyst sentiment was generally positive: six analysts rated the stock Buy and two rated it Hold, producing a “Moderate Buy” consensus rating, although the average price target of $20.97 was below the reported trading price.

Accordant Advisory Group Inc grew its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 35.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,740 shares of the oil and gas exploration company's stock after buying an additional 50,921 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up approximately 2.5% of Accordant Advisory Group Inc's portfolio, making the stock its 14th largest position. Accordant Advisory Group Inc's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $4,043,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PBR. Carrhae Capital LLP bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $87,456,000. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at approximately $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $12,175,000. Franchise GP Ltd acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth about $17,660,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $2,074,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.0%

NYSE PBR opened at $22.06 on Monday. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $26.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The stock's 50 day moving average price is $21.98 and its two-hundred day moving average price is $19.04. The stock has a market capitalization of $142.16 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 1.97 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be given a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 10.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBR. UBS Group lifted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. JPMorgan Chase & Co. increased their price target on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Finally, Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil's energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil's deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.

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