Avantax Advisory Services Inc. Raises Stock Holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Key Points

• Avantax Advisory Services Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 31.8% in the first quarter, purchasing an additional 34,787 shares to reach a total of 144,098 shares valued at approximately $2,066,000.
• Several institutional investors, including TrueMark Investments LLC and Ted Buchan & Co, have recently adjusted their stakes in Petroleo Brasileiro S.A.- Petrobras, reflecting growing interest in the company.
• The stock has received multiple ratings upgrades, with Wall Street Zen and Jefferies Financial Group upgrading their ratings to "buy" and setting targets as high as $15.30, while it maintains a current consensus rating of "Buy" with an average target price of $17.40.

Avantax Advisory Services Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 31.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,098 shares of the oil and gas exploration company's stock after purchasing an additional 34,787 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,066,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PBR. Financial Gravity Asset Management Inc. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at $32,000. Redwood Park Advisors LLC lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock valued at $53,000 after acquiring an additional 1,810 shares in the last quarter. Kapitalo Investimentos Ltda lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 104.4% in the fourth quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock valued at $86,000 after acquiring an additional 156,663 shares in the last quarter. Finally, City Holding Co. acquired a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at $97,000.

Analysts Set New Price Targets

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

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.4%

Shares of NYSE PBR traded up $0.06 on Monday, hitting $12.75. The company had a trading volume of 10,937,723 shares, compared to its average volume of 20,813,271. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $15.73. The business has a 50 day moving average of $12.39 and a two-hundred day moving average of $12.78. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $82.13 billion, a P/E ratio of 9.51 and a beta of 0.85.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be issued a $0.2806 dividend. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. This represents a yield of 1,760.0%. The ex-dividend date of this dividend is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is currently 73.88%.

Petroleo Brasileiro S.A.- Petrobras Company 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.