Janney Montgomery Scott LLC Boosts Stock Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Janney Montgomery Scott LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 102.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,435 shares of the oil and gas exploration company’s stock after acquiring an additional 51,351 shares during the period. Janney Montgomery Scott LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $1,639,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PBR. Capital International Investors increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% in the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after purchasing an additional 10,425,563 shares during the last quarter. Oaktree Capital Management LP bought a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $126,355,000. DJE Kapital AG purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $65,428,000. DNB Asset Management AS purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter valued at approximately $21,778,000. Finally, Mondrian Investment Partners LTD increased its stake in Petroleo Brasileiro S.A.- Petrobras by 14.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after acquiring an additional 1,562,473 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $17.89 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The company has a current ratio of 0.85, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $17.63 and a 200 day moving average price of $18.32. The stock has a market cap of $115.26 billion, a PE ratio of 4.52, a P/E/G ratio of 0.73 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 8.59%.

Wall Street Analyst Weigh In

PBR has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras 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.