Element Squared LLC Invests $2.50 Million in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Element Squared LLC opened a new position in Petroleo Brasileiro S.A.- Petrobras, buying 120,245 shares worth about $2.5 million. The stake represents roughly 1.4% of its portfolio and is its 8th-largest holding.
• Petrobras reported $0.96 EPS for the latest quarter on $23.54 billion in revenue, and analysts expect the company to earn 4.72 EPS for the current year. The stock also trades at a relatively low P/E ratio of 5.24.
• The company announced a special dividend of $0.1426 per share, payable on August 27, while Wall Street’s consensus rating remains Moderate Buy with a target price of about $19.28.

Element Squared LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 120,245 shares of the oil and gas exploration company's stock, valued at approximately $2,495,000. Petroleo Brasileiro S.A.- Petrobras makes up approximately 1.4% of Element Squared LLC's portfolio, making the stock its 8th largest holding.

A number of other institutional investors have also recently bought and sold shares of PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company's stock valued at $471,000 after buying an additional 11,680 shares during the last quarter. Focus Partners Wealth increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company's stock worth $296,000 after buying an additional 1,356 shares during the last quarter. Cresset Asset Management LLC raised its position in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company's stock valued at $201,000 after acquiring an additional 5,624 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 797.8% in the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company's stock valued at $235,000 after acquiring an additional 16,699 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 35.0% in the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company's stock valued at $674,000 after acquiring an additional 13,988 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.9%

Shares of PBR stock opened at $16.14 on Wednesday. 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 quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market cap of $103.98 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 0.65 and a beta of 0.32. The stock has a 50 day moving average of $19.09 and a 200-day moving average of $17.03.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion for the quarter. On average, equities analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be given a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is currently 11.04%.

Wall Street Analysts Forecast Growth

PBR has been the subject of several recent research reports. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Sunday, March 22nd. Jefferies Financial Group cut shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $20.30 to $19.00 in a report on Friday, March 13th. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and increased their target price for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, May 12th. Finally, Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras 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.

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