Advisory Services Network LLC Boosts Stake in PETROLEO BRASIL/ADR (NYSE:PBR)

Advisory Services Network LLC grew its stake in shares of PETROLEO BRASIL/ADR (NYSE:PBR) by 190.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,951 shares of the oil and gas exploration company’s stock after purchasing an additional 3,246 shares during the quarter. Advisory Services Network LLC’s holdings in PETROLEO BRASIL/ADR were worth $79,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Lindbrook Capital LLC raised its holdings in PETROLEO BRASIL/ADR by 72.2% in the first quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 709 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in PETROLEO BRASIL/ADR in the first quarter worth about $159,000. OLD National Bancorp IN bought a new position in PETROLEO BRASIL/ADR in the first quarter worth about $167,000. Quantamental Technologies LLC bought a new position in PETROLEO BRASIL/ADR in the first quarter worth about $168,000. Finally, Stifel Financial Corp bought a new position in PETROLEO BRASIL/ADR in the fourth quarter worth about $170,000. 7.23% of the stock is owned by hedge funds and other institutional investors.

PETROLEO BRASIL/ADR stock traded down $0.03 during mid-day trading on Thursday, hitting $16.13. The company had a trading volume of 10,313,476 shares, compared to its average volume of 16,732,609. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market cap of $105.59 billion, a P/E ratio of 11.28 and a beta of 1.48. The firm’s fifty day moving average is $15.68. PETROLEO BRASIL/ADR has a 12-month low of $10.16 and a 12-month high of $17.90.

PETROLEO BRASIL/ADR (NYSE:PBR) last announced its earnings results on Thursday, May 2nd. The oil and gas exploration company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.06). The business had revenue of $21.23 billion for the quarter, compared to analyst estimates of $21.65 billion. PETROLEO BRASIL/ADR had a return on equity of 10.35% and a net margin of 6.50%. On average, sell-side analysts expect that PETROLEO BRASIL/ADR will post 1.3 earnings per share for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Monday, July 15th. Investors of record on Thursday, May 23rd were paid a $0.0509 dividend. This is an increase from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date of this dividend was Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio is currently 11.19%.

A number of equities research analysts have recently weighed in on the company. Credit Suisse Group upgraded J M Smucker from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $96.00 to $120.00 in a research note on Monday, April 8th. Goldman Sachs Group upgraded Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Thursday, July 11th. Citigroup set a $12.00 price target on Avaya and gave the stock a “hold” rating in a research note on Monday, July 8th. Bank of America set a $225.00 price target on Tesla and gave the stock a “sell” rating in a research note on Wednesday, July 3rd. Finally, Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $19.19.

PETROLEO BRASIL/ADR Company Profile

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It 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.

See Also: What is a Special Dividend?

Institutional Ownership by Quarter for PETROLEO BRASIL/ADR (NYSE:PBR)

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