Caprock Group LLC Buys 95,664 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Caprock Group LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 526.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,826 shares of the oil and gas exploration company’s stock after acquiring an additional 95,664 shares during the period. Caprock Group LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,696,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PBR. International Assets Investment Management LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the fourth quarter valued at about $1,720,000. M&T Bank Corp boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% in the 4th quarter. M&T Bank Corp now owns 26,091 shares of the oil and gas exploration company’s stock worth $417,000 after purchasing an additional 661 shares in the last quarter. Lincoln National Corp purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth $356,000. Ieq Capital LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $559,000. Finally, Avantax Advisory Services Inc. boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 9.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 31,392 shares of the oil and gas exploration company’s stock worth $501,000 after acquiring an additional 2,650 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Petróleo Brasileiro S.A. – Petrobras stock opened at $14.99 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The business has a 50 day simple moving average of $14.75 and a 200-day simple moving average of $15.26.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $23.47 billion during the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. Analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be given a dividend of $0.165 per share. This represents a dividend yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 25.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PBR shares. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.80 to $17.90 in a report on Thursday, June 27th. Jefferies Financial Group lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.20 to $17.70 in a research note on Wednesday, May 15th. UBS Group dropped their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $18.00 to $20.00 in a research report on Monday, August 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Petróleo Brasileiro S.A. – Petrobras 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.