Frank Rimerman Advisors LLC Grows Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Frank Rimerman Advisors LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1,052.5% in the second quarter, HoldingsChannel.com reports. The fund owned 39,127 shares of the oil and gas exploration company’s stock after acquiring an additional 35,732 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBR. Janney Montgomery Scott LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 48.8% during the first quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock valued at $990,000 after buying an additional 21,352 shares during the period. Diversified Trust Co grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 127.1% in the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock worth $1,987,000 after purchasing an additional 76,752 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 22.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 31,750 shares of the oil and gas exploration company’s stock worth $483,000 after buying an additional 5,750 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 14.8% during the fourth quarter. Parallel Advisors LLC now owns 19,980 shares of the oil and gas exploration company’s stock valued at $319,000 after acquiring an additional 2,571 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter valued at about $2,988,000.

Analyst Ratings Changes

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

Petróleo Brasileiro S.A. – Petrobras Stock Up 1.2 %

PBR stock opened at $14.58 on Tuesday. The firm has a fifty day moving average price of $14.68 and a 200 day moving average price of $15.09. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The firm had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. Sell-side analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

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.