Connective Portfolio Management LLC Invests $2.91 Million in Petroleo Brasileiro S.A.- Petrobras $PBR

Connective Portfolio Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the first quarter, HoldingsChannel.com reports. The fund purchased 140,200 shares of the oil and gas exploration company’s stock, valued at approximately $2,909,000. Petroleo Brasileiro S.A.- Petrobras makes up about 7.9% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 3rd biggest position.

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

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR opened at $16.75 on Friday. The firm has a market cap of $107.92 billion, a P/E ratio of 5.44, a PEG ratio of 0.61 and a beta of 0.32. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. The firm’s 50 day moving average price is $19.73 and its two-hundred day moving average price is $16.80.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. The company 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%. On average, analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be given a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 11.04%.

Analyst Ratings Changes

A number of research firms recently commented on PBR. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their target price for the stock from $20.30 to $19.00 in a research report on Friday, March 13th. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.28.

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.