SeaCrest Wealth Management LLC Purchases 22,806 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

SeaCrest Wealth Management LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 35.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,559 shares of the oil and gas exploration company’s stock after acquiring an additional 22,806 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,332,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. M&T Bank Corp boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 2.6% during the fourth quarter. M&T Bank Corp now owns 26,091 shares of the oil and gas exploration company’s stock worth $417,000 after buying an additional 661 shares during the last quarter. Founders Capital Management grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 17.5% during 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 period. Cerity Partners LLC increased its stake in Petróleo Brasileiro S.A. – Petrobras by 7.4% in the fourth quarter. Cerity Partners LLC now owns 12,280 shares of the oil and gas exploration company’s stock valued at $196,000 after purchasing an additional 848 shares in the last quarter. Grey Street Capital LLC raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 3.4% in the fourth quarter. Grey Street Capital LLC now owns 26,227 shares of the oil and gas exploration company’s stock worth $439,000 after purchasing an additional 858 shares during the period. Finally, Financial Security Advisor Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 5.2% during the first quarter. Financial Security Advisor Inc. now owns 17,590 shares of the oil and gas exploration company’s stock worth $268,000 after purchasing an additional 865 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $14.55 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $13.02 and a 12 month high of $17.91. The company’s fifty day simple moving average is $15.40 and its 200-day simple moving average is $15.87. 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 posted its quarterly earnings data on Monday, May 13th. The oil and gas exploration company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. The business had revenue of $23.77 billion for the quarter, compared to analyst estimates of $24.63 billion. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, research analysts predict 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. Shareholders of record on Thursday, June 13th will be given a dividend of $0.0288 per share. This represents a dividend yield of 16%. The ex-dividend date is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 26.45%.

Wall Street Analyst Weigh In

A number of analysts recently commented on PBR shares. Jefferies Financial Group cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and lowered their price objective for the company from $21.20 to $17.70 in a research report on Wednesday, May 15th. Morgan Stanley cut Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a report on Monday, March 11th. 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 research note on Monday, March 25th. UBS Group increased their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, 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 report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.56.

About Petróleo Brasileiro S.A. – Petrobras

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.