Wealth High Governance Capital Ltda Buys Shares of 70,033 Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Wealth High Governance Capital purchased 70,033 Petrobras shares in the first quarter, valued at approximately $1.45 million. Several other institutional investors also initiated or expanded positions.
• Analyst sentiment is generally positive, with five Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with a $19.28 target price, though individual views range from Buy to Strong Sell.
• Petrobras shares opened at $19.39, while the company reported quarterly EPS of $0.96 and revenue of $23.54 billion. It also declared a special $0.1426-per-share dividend payable August 27.

Wealth High Governance Capital Ltda purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 70,033 shares of the oil and gas exploration company's stock, valued at approximately $1,453,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PBR. GHP Investment Advisors Inc. bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth about $26,000. Clearstead Advisors LLC boosted its position in shares of 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 purchasing an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd 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 in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth approximately $39,000. Finally, Ascentis Independent Advisors bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $51,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings raised 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. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and upped their price objective for the company from $18.70 to $24.80 in a report on Friday, April 17th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. reduced 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. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of "Moderate Buy" and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.1%

Shares of NYSE PBR opened at $19.39 on Monday. The stock has a market capitalization of $124.93 billion, a P/E ratio of 6.29, a PEG ratio of 0.85 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24. The firm's 50 day simple moving average is $17.73 and its two-hundred 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 announced its quarterly earnings data 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. As a group, analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

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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