12,100 Shares in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Acquired by Summit X LLC

Summit X LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 12,100 shares of the oil and gas exploration company’s stock, valued at approximately $174,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dodge & Cox lifted its position in Petroleo Brasileiro S.A.- Petrobras by 4.8% in the 4th quarter. Dodge & Cox now owns 17,300 shares of the oil and gas exploration company’s stock valued at $222,000 after acquiring an additional 800 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 5.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 23,536 shares of the oil and gas exploration company’s stock worth $303,000 after purchasing an additional 1,164 shares during the last quarter. Samalin Investment Counsel LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 9.8% in the fourth quarter. Samalin Investment Counsel LLC now owns 14,194 shares of the oil and gas exploration company’s stock valued at $183,000 after purchasing an additional 1,269 shares in the last quarter. Vise Technologies Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 5.1% during the fourth quarter. Vise Technologies Inc. now owns 33,916 shares of the oil and gas exploration company’s stock valued at $436,000 after buying an additional 1,633 shares during the last quarter. Finally, Poehling Capital Management INC. raised its position in Petroleo Brasileiro S.A.- Petrobras by 0.8% in the 4th quarter. Poehling Capital Management INC. now owns 228,299 shares of the oil and gas exploration company’s stock valued at $2,936,000 after buying an additional 1,870 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PBR. Jefferies Financial Group upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $15.30 target price for the company in a research note on Thursday, May 15th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Finally, Bank of America cut shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “neutral” rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.40.

Petroleo Brasileiro S.A.- Petrobras Stock Down 1.1%

PBR opened at $12.37 on Thursday. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.73. The company’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $12.85. The stock has a market cap of $79.68 billion, a price-to-earnings ratio of 9.23 and a beta of 0.85. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be issued a $0.2806 dividend. This represents a dividend yield of 17.6%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Petroleo Brasileiro S.A.- Petrobras’s previous — dividend of $0.24. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 73.88%.

Petroleo Brasileiro S.A.- Petrobras Company 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.