Redmont Wealth Advisors LLC Purchases New Shares in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Redmont Wealth Advisors LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,356 shares of the oil and gas exploration company’s stock, valued at approximately $583,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBR. Sound Income Strategies LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth about $45,000. Frank Rimerman Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth approximately $54,000. Founders Capital Management lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 17.5% in the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 700 shares during the last quarter. Kapitalo Investimentos Ltda grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 782.4% during the 4th quarter. Kapitalo Investimentos Ltda now owns 6,936 shares of the oil and gas exploration company’s stock worth $111,000 after acquiring an additional 6,150 shares during the period. Finally, Barometer Capital Management Inc. bought a new position in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $121,000.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.8 %

Petróleo Brasileiro S.A. – Petrobras stock traded up $0.11 during trading hours on Wednesday, reaching $14.67. The stock had a trading volume of 12,589,444 shares, compared to its average volume of 19,288,443. The company has a fifty day simple moving average of $15.36 and a 200-day simple moving average of $15.87. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $13.02 and a 52 week high of $17.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.81.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a net margin of 22.46% and a return on equity of 31.07%. The business had revenue of $23.77 billion for the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. As a group, sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.46 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, June 13th will be issued a $0.0288 dividend. This represents a yield of 16%. The ex-dividend date of this dividend is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 26.45%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PBR shares. UBS Group boosted their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a report on Monday, March 25th. Jefferies Financial Group lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the company from $21.20 to $17.70 in a report on Wednesday, May 15th. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, March 25th. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, Morgan Stanley cut shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $16.56.

Petróleo 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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.