Fore Capital LLC Purchases Shares of 80,000 Petroleo Brasileiro S.A.- Petrobras $PBR

Fore Capital LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 80,000 shares of the oil and gas exploration company’s stock, valued at approximately $948,000. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 0.3% of Fore Capital LLC’s holdings, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 11,680 shares during the period. Focus Partners Wealth increased its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the 1st quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after purchasing an additional 1,356 shares in the last quarter. Cresset Asset Management LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the 2nd quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock valued at $201,000 after purchasing an additional 5,624 shares in the last quarter. NewEdge Advisors LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 797.8% during the 2nd quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock valued at $235,000 after purchasing an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 35.0% during the 2nd quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock valued at $674,000 after purchasing an additional 13,988 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the company from $18.70 to $24.80 in a report on Friday, April 17th. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. lowered their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.7%

PBR stock opened at $18.06 on Friday. The firm’s fifty day simple moving average is $20.37 and its two-hundred day simple moving average is $16.46. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $116.36 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 0.73 and a beta of 0.32. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $22.24.

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. The firm had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. As a group, analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be issued a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 14.29%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo 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.