Moran Wealth Management LLC Raises Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Moran Wealth Management LLC boosted its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 52.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,052 shares of the oil and gas exploration company’s stock after buying an additional 75,504 shares during the period. Moran Wealth Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $3,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PBR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Petróleo Brasileiro S.A. – Petrobras by 83.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,169 shares during the period. Harbour Investments Inc. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter worth approximately $29,000. Federated Hermes Inc. increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 34.3% during the first quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock worth $50,000 after buying an additional 861 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $52,000. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $56,000. 11.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 23rd. StockNews.com raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Tuesday. Bradesco Corretora raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Friday, September 8th. Citigroup downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $14.00 in a report on Thursday, August 10th. Finally, Jefferies Financial Group began coverage on Petróleo Brasileiro S.A. – Petrobras in a report on Thursday, September 21st. They issued a “buy” rating and a $21.20 price target for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.34.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR stock opened at $16.10 on Tuesday. The company has a market capitalization of $105.01 billion, a P/E ratio of 3.91 and a beta of 1.58. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $8.88 and a twelve month high of $16.55. The business has a 50 day simple moving average of $15.27 and a 200-day simple moving average of $14.07. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Friday, November 24th will be issued a $0.243 dividend. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous quarterly dividend of $0.09. This represents a $0.97 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Wednesday, November 22nd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 8.98%.

Petróleo Brasileiro S.A. – Petrobras Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.