Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stake Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 66.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,135 shares of the oil and gas exploration company’s stock after purchasing an additional 8,055 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 18.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company’s stock valued at $24,445,000 after buying an additional 265,560 shares during the last quarter. Capital Wealth Planning LLC raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 27.0% during the fourth quarter. Capital Wealth Planning LLC now owns 342,752 shares of the oil and gas exploration company’s stock valued at $4,408,000 after buying an additional 72,930 shares during the last quarter. RWC Asset Management LLP raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 9.8% during the fourth quarter. RWC Asset Management LLP now owns 2,142,912 shares of the oil and gas exploration company’s stock valued at $27,558,000 after buying an additional 190,435 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the third quarter valued at approximately $141,372,000. Finally, Ping Capital Management Inc. raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 50.7% during the fourth quarter. Ping Capital Management Inc. now owns 80,000 shares of the oil and gas exploration company’s stock valued at $1,029,000 after buying an additional 26,900 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PBR. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, March 5th. Hsbc Global Res upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, StockNews.com downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE PBR opened at $14.20 on Friday. The stock has a market capitalization of $91.48 billion, a P/E ratio of 5.54, a P/E/G ratio of 0.18 and a beta of 1.39. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.45 and a 1 year high of $17.44. The business’s fifty day moving average is $13.79 and its two-hundred day moving average is $13.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Tuesday, April 22nd will be issued a $0.2403 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a dividend yield of 19%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 137.93%.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.