Opal Capital LLC Acquires 40,920 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Opal Capital LLC grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 14.0% in the first quarter, Holdings Channel reports. The firm owned 332,600 shares of the oil and gas exploration company’s stock after acquiring an additional 40,920 shares during the period. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 1.2% of Opal Capital LLC’s holdings, making the stock its 23rd largest position. Opal Capital LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,901,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter worth about $26,000. Clearstead Advisors LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after buying an additional 1,706 shares during the period. Geneos Wealth Management Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Ascentis Independent Advisors bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $51,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $54,000.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.5%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $18.09 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The firm’s 50-day moving average is $17.78 and its two-hundred day moving average is $17.84. The stock has a market cap of $116.61 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 0.79 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion during the quarter. As a group, research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.28 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 11.04%.

Analysts Set New Price Targets

PBR has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.70 to $24.80 in a report on Friday, April 17th. Finally, Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.