Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Stock Position Lifted by Annex Advisory Services LLC

Annex Advisory Services LLC lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,818,558 shares of the oil and gas exploration company's stock after buying an additional 309,752 shares during the quarter. Annex Advisory Services LLC's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $26,078,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PBR. abrdn plc raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 2.7% during the 4th quarter. abrdn plc now owns 290,793 shares of the oil and gas exploration company's stock valued at $3,708,000 after buying an additional 7,626 shares during the period. MAS Advisors LLC raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 31.3% during the 4th quarter. MAS Advisors LLC now owns 19,840 shares of the oil and gas exploration company's stock valued at $255,000 after buying an additional 4,732 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of Petróleo Brasileiro S.A. - Petrobras during the 4th quarter valued at about $162,000. Ping Capital Management Inc. grew its stake in Petróleo Brasileiro S.A. - Petrobras by 50.7% during the 4th quarter. Ping Capital Management Inc. now owns 80,000 shares of the oil and gas exploration company's stock valued at $1,029,000 after purchasing an additional 26,900 shares in the last quarter. Finally, Tyche Wealth Partners LLC acquired a new stake in Petróleo Brasileiro S.A. - Petrobras during the 4th quarter valued at approximately $228,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PBR. HSBC upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research note on Wednesday, March 5th. Jefferies Financial Group upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective for the company in a research note on Thursday, May 15th. Hsbc Global Res upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Wall Street Zen upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $17.47.

Petróleo Brasileiro S.A. - Petrobras Stock Performance

NYSE:PBR traded up $0.16 during midday trading on Friday, reaching $11.32. 17,710,427 shares of the company traded hands, compared to its average volume of 17,509,915. Petróleo Brasileiro S.A. - Petrobras has a twelve month low of $11.03 and a twelve month high of $15.73. The firm has a market capitalization of $72.95 billion, a price-to-earnings ratio of 4.42, a price-to-earnings-growth ratio of 0.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The company has a fifty day moving average price of $11.77 and a 200 day moving average price of $13.07.

Petróleo Brasileiro S.A. - Petrobras Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be given a dividend of $0.2806 per share. The ex-dividend date is Wednesday, June 4th. This represents a yield of 17.6%. This is a positive change from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. Petróleo Brasileiro S.A. - Petrobras's payout ratio is currently 86.57%.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.