Axxcess Wealth Management LLC Buys Shares of 12,080 Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Axxcess Wealth Management LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,080 shares of the oil and gas exploration company’s stock, valued at approximately $174,000.

Several other institutional investors and hedge funds have also modified their holdings of PBR. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter worth $298,000. Avantax Advisory Services Inc. grew its position in Petróleo Brasileiro S.A. – Petrobras by 31.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 41,266 shares of the oil and gas exploration company’s stock worth $628,000 after acquiring an additional 9,874 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter worth about $166,000. Tocqueville Asset Management L.P. raised its position in Petróleo Brasileiro S.A. – Petrobras by 43.6% in the first quarter. Tocqueville Asset Management L.P. now owns 15,485 shares of the oil and gas exploration company’s stock valued at $236,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Banco Santander S.A. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 10.0% during the first quarter. Banco Santander S.A. now owns 126,494 shares of the oil and gas exploration company’s stock valued at $1,924,000 after purchasing an additional 11,508 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.12 on Friday. The business has a 50-day moving average price of $14.28 and a two-hundred day moving average price of $14.75. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. The company has a market cap of $92.09 billion, a P/E ratio of 5.52, a PEG ratio of 0.21 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on PBR. Hsbc Global Res downgraded 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 company from $18.00 to $20.00 in a research note on Monday, August 26th. The Goldman Sachs Group lifted their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Finally, UBS Group cut their target price 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.