Nations Financial Group Inc. IA ADV Acquires 1,497 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Nations Financial Group Inc. IA ADV increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 4.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 34,942 shares of the oil and gas exploration company’s stock after acquiring an additional 1,497 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 1,468 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at $32,000. Nisa Investment Advisors LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at $35,000. Frank Rimerman Advisors LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at $54,000. Finally, SYSTM Wealth Solutions LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 210.6% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 3,998 shares of the oil and gas exploration company’s stock valued at $61,000 after purchasing an additional 2,711 shares in the last quarter.

Wall Street Analyst Weigh In

PBR has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and decreased their target price for the company from $21.20 to $17.70 in a research report on Wednesday, May 15th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their target price for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $20.00 in a research report on Monday. Finally, UBS Group cut their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and a consensus target price of $17.63.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Petróleo Brasileiro S.A. – Petrobras stock traded down $0.04 during trading hours on Friday, hitting $15.24. 15,139,549 shares of the stock traded hands, compared to its average volume of 18,507,293. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. The firm’s 50 day moving average price is $14.66 and its 200-day moving average price is $15.40. The stock has a market capitalization of $99.40 billion, a price-to-earnings ratio of 4.43, a P/E/G ratio of 0.18 and a beta of 1.41. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.165 per share. This represents a yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 25.00%.

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.