Petroleo Brasileiro S.A.- Petrobras $PBR Shares Purchased by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC boosted its stake in Petroleo Brasileiro S.A. (NYSE: PBR) by 18% in Q4, acquiring 81,567 shares to hold 535,044 shares valued at about $6.34 million.
• Bank of America upgraded PBR to a Buy and raised its price target to $24.80, while the consensus analyst rating is a Moderate Buy with an average target of $18.35.
• Petrobras announced a special dividend of $0.1191 per share (record date April 24, payable May 28), with a reported payout ratio of roughly 11.5%.

Moran Wealth Management LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 535,044 shares of the oil and gas exploration company's stock after acquiring an additional 81,567 shares during the quarter. Moran Wealth Management LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.2% in the first 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 acquiring an additional 11,680 shares during the last quarter. Focus Partners Wealth boosted 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 valued at $296,000 after acquiring an additional 1,356 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.9% in 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 during the last quarter. NewEdge Advisors LLC boosted its holdings 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 boosted its holdings 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PBR. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Sunday, March 22nd. Jefferies Financial Group cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $20.30 to $19.00 in a research note on Friday, March 13th. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 31st. Weiss Ratings restated a "hold (c)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, April 10th. Finally, Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $18.70 to $24.80 in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of "Moderate Buy" and a consensus target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Trading Down 5.0%

Shares of PBR opened at $20.43 on Friday. The stock's 50-day moving average is $18.47 and its two-hundred day moving average is $14.62. The stock has a market cap of $131.66 billion, a PE ratio of 6.72, a P/E/G ratio of 0.17 and a beta of 0.37. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $22.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.71 and a quick ratio of 0.48.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its quarterly earnings data on Sunday, February 15th. The oil and gas exploration company reported $0.45 EPS for the quarter. The company had revenue of $23.61 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%. Equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, May 28th. Stockholders of record on Friday, April 24th will be given a dividend of $0.1191 per share. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is presently 11.51%.

Petroleo Brasileiro S.A.- Petrobras Company 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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