Axxcess Wealth Management LLC Boosts Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Axxcess Wealth Management LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 85.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,700 shares of the oil and gas exploration company’s stock after buying an additional 14,577 shares during the period. Axxcess Wealth Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $506,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth $45,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth about $85,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth about $106,000. Payden & Rygel Investment Group purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the third quarter worth about $153,000. Finally, Fermata Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $164,000.

Wall Street Analysts Forecast Growth

PBR has been the subject of a number of research reports. Bank of America downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research report on Friday, March 8th. Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $18.00 in a report on Monday, March 11th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Monday, March 25th. Finally, UBS Group boosted their price objective on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Up 2.3 %

PBR stock opened at $17.01 on Wednesday. The firm has a 50 day moving average of $15.85 and a 200-day moving average of $15.96. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $10.64 and a 12 month high of $17.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.15. The firm had revenue of $27.11 billion during the quarter, compared to analyst estimates of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. Equities analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.6 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, May 6th will be issued a $0.3406 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a dividend yield of 16.25%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 21.73%.

About Petróleo Brasileiro S.A. – Petrobras

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.