Capital Wealth Planning LLC Purchases 70,355 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Capital Wealth Planning LLC lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 37.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,372 shares of the oil and gas exploration company’s stock after buying an additional 70,355 shares during the quarter. Capital Wealth Planning LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $3,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PBR. Mondrian Investment Partners LTD bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter worth $140,433,000. Capital International Investors boosted its position in Petroleo Brasileiro S.A.- Petrobras by 51.6% during the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after purchasing an additional 10,425,563 shares in the last quarter. ICICI Prudential Asset Management Co Ltd bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the third quarter valued at about $35,144,000. DNB Asset Management AS bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at about $21,778,000. Finally, Earnest Partners LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 52.0% during the third quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock valued at $61,685,000 after purchasing an additional 1,665,873 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock opened at $18.11 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. The company has a market cap of $116.68 billion, a P/E ratio of 5.88, a PEG ratio of 0.71 and a beta of 0.32. The stock’s 50-day moving average is $20.17 and its 200 day moving average is $16.59. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $22.24.

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 earnings per share for the quarter. The business had revenue of $23.54 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%. Research analysts predict 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 declared a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be issued a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 11.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PBR. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their price objective on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their price objective for the company from $20.30 to $19.00 in a research report on Friday, March 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Company 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.