ABN Amro Investment Solutions Increases Stake in Petroleo Brasileiro S.A.- Petrobras $PBR

ABN Amro Investment Solutions increased its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 312.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 42,100 shares of the oil and gas exploration company’s stock after acquiring an additional 31,900 shares during the quarter. ABN Amro Investment Solutions’ holdings in Petroleo Brasileiro S.A.- Petrobras were worth $499,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 20.9% during the 3rd quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company’s stock valued at $34,213,000 after buying an additional 467,737 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $1,342,000. Moran Wealth Management LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 18.0% during the 4th quarter. Moran Wealth Management LLC now owns 535,044 shares of the oil and gas exploration company’s stock valued at $6,340,000 after buying an additional 81,567 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,969,030 shares of the oil and gas exploration company’s stock valued at $24,928,000 after buying an additional 151,300 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 2,273.3% during the 4th quarter. ORG Partners LLC now owns 52,283 shares of the oil and gas exploration company’s stock valued at $619,000 after buying an additional 50,080 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on PBR shares. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. The Goldman Sachs Group lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.30 to $19.00 in a report on Friday, March 13th. Finally, Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Buy” and an average price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR opened at $19.93 on Monday. The company has a market cap of $128.40 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.79 and a beta of 0.38. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $20.45 and a 200-day moving average price of $16.07. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month 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 (EPS) for the quarter. The firm 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%. As a group, equities analysts forecast 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. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.1426 per share. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 10.71%.

About Petroleo Brasileiro S.A.- Petrobras

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.