Wealth High Governance Asset Management Ltda. Makes New $1.24 Million Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Wealth High Governance Asset Management initiated a $1.24 million position in Petrobras during the first quarter, purchasing 59,934 shares. Several other institutional investors also increased or established stakes.
• Petrobras reported quarterly earnings of $0.96 per share on $23.54 billion in revenue, with a 21.67% net margin and 23.65% return on equity. Analysts expect full-year EPS of $4.28.
• The company declared a special $0.1426-per-share dividend, payable August 27 to shareholders of record June 3. Analyst sentiment is “Moderate Buy,” with an average price target of $19.28 versus the reported share price of $19.39.

Wealth High Governance Asset Management Ltda. purchased a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,934 shares of the oil and gas exploration company's stock, valued at approximately $1,244,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBR. GHP Investment Advisors Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $26,000. Clearstead Advisors LLC lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company's stock valued at $28,000 after buying an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock valued at $30,000 after purchasing an additional 1,044 shares during the period. Ascentis Independent Advisors bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $51,000. Finally, Harbor Investment Advisory LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $54,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE PBR opened at $19.39 on Monday. The stock has a market capitalization of $124.93 billion, a price-to-earnings ratio of 6.29, a PEG ratio of 0.85 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The firm's 50 day simple moving average is $17.73 and its 200-day simple moving average is $17.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The firm had revenue of $23.54 billion during the quarter. Analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be issued a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras's payout ratio is presently 11.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PBR. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and raised their price target for the stock from $18.70 to $24.80 in a report on Friday, April 17th. JPMorgan Chase & Co. decreased their target price on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.28.

About Petroleo Brasileiro S.A.- Petrobras

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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