Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Position Boosted by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 347,910 shares of the oil and gas exploration company’s stock after purchasing an additional 7,600 shares during the period. Petróleo Brasileiro S.A. – Petrobras accounts for about 3.1% of Cape Ann Asset Management Ltd’s holdings, making the stock its 6th biggest holding. Cape Ann Asset Management Ltd’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth $30,000. ORG Partners LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 396.0% in the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,679 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $32,000. Finally, Bogart Wealth LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 571.4% during the third quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 2,000 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Petróleo Brasileiro S.A. – Petrobras stock opened at $14.90 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The company has a fifty day moving average price of $14.25 and a two-hundred day moving average price of $14.63. The company has a market cap of $97.18 billion, a PE ratio of 5.82, a P/E/G ratio of 0.21 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, December 27th will be given a dividend of $0.227 per share. This represents a dividend yield of 16.3%. The ex-dividend date is Friday, December 27th. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 38.67%.

Analysts Set New Price Targets

PBR has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. The Goldman Sachs Group upped their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.24.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.