Fore Capital LLC Invests $948,000 in Petroleo Brasileiro S.A.- Petrobras $PBR

Fore Capital LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 80,000 shares of the oil and gas exploration company’s stock, valued at approximately $948,000. Petroleo Brasileiro S.A.- Petrobras makes up 0.3% of Fore Capital LLC’s portfolio, making the stock its 23rd largest position.

Several other large investors have also made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at approximately $26,000. Clearstead Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 1,706 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares during the period. Bayforest Capital Ltd bought a new position in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth $39,000. Finally, BNP Paribas raised its stake in Petroleo Brasileiro S.A.- Petrobras by 241.9% during the third quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company’s stock worth $54,000 after buying an additional 3,000 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on PBR. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group boosted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.70 to $24.80 in a research note on Friday, April 17th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Finally, Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and an average target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE:PBR opened at $18.06 on Friday. The company’s fifty day moving average price is $20.37 and its 200-day moving average price is $16.46. The firm has a market capitalization of $116.36 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.73 and a beta of 0.32. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $22.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. The firm had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. On average, equities research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 14.29%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.