Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. has increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 12.5%, acquiring a total of 1,008,475 shares valued at approximately $14.46 million.
• Several hedge funds have also shown interest in Petrobras, with increases in holdings from firms such as Redwood Park Advisors LLC and Kapitalo Investimentos Ltda during the first quarter.
• Jefferies Financial Group has upgraded Petrobras to a "buy" rating, setting a target price of $15.30, while the average analyst rating for the stock currently stands at "Buy" with a target of $17.40.

Assetmark Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,008,475 shares of the oil and gas exploration company's stock after acquiring an additional 111,757 shares during the period. Assetmark Inc.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $14,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 31.8% during the first quarter. Avantax Advisory Services Inc. now owns 144,098 shares of the oil and gas exploration company's stock valued at $2,066,000 after buying an additional 34,787 shares during the last quarter. Journey Strategic Wealth LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 42.9% during the 1st quarter. Journey Strategic Wealth LLC now owns 41,070 shares of the oil and gas exploration company's stock valued at $589,000 after purchasing an additional 12,320 shares during the last quarter. Redwood Park Advisors LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 95.6% during the 1st quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock valued at $53,000 after purchasing an additional 1,810 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 28.0% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 150,414 shares of the oil and gas exploration company's stock worth $2,157,000 after purchasing an additional 32,863 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $146,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 1.1%

Shares of PBR stock traded down $0.14 during mid-day trading on Wednesday, hitting $12.71. 4,090,283 shares of the stock traded hands, compared to its average volume of 20,762,514. The stock has a market cap of $81.88 billion, a P/E ratio of 9.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The stock's fifty day moving average is $12.33 and its two-hundred day moving average is $12.80. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $15.73.

Petroleo 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 $0.2806 dividend. This is a positive change from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. This represents a dividend yield of 17.6%. The ex-dividend date is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 73.88%.

Analyst Ratings Changes

A number of research analysts have recently commented on PBR shares. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Bank of America cut shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Finally, Jefferies Financial Group upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price on the stock in a report on Thursday, May 15th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of "Buy" and a consensus target price of $17.40.

Petroleo 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.