Element Squared LLC Purchases Shares of 120,245 Petroleo Brasileiro S.A.- Petrobras $PBR

Element Squared LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 120,245 shares of the oil and gas exploration company’s stock, valued at approximately $2,495,000. Petroleo Brasileiro S.A.- Petrobras comprises 1.4% of Element Squared LLC’s holdings, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of PBR. GHP Investment Advisors Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at $26,000. Clearstead Advisors LLC raised its stake in shares of 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 in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of 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 valued at $30,000 after buying an additional 1,044 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $54,000. Finally, Bayforest Capital Ltd bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth about $39,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE:PBR opened at $16.14 on Wednesday. The firm has a market cap of $103.98 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 0.65 and a beta of 0.32. 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 quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $19.09 and its two-hundred day moving average price is $17.03.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The company had revenue of $23.54 billion during the quarter. On average, equities analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Analyst Ratings Changes

PBR has been the topic of a number of analyst reports. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. 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. Zacks Research downgraded 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 objective on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and lowered their price objective for the company from $20.30 to $19.00 in a research note on Friday, March 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.28.

About Petroleo Brasileiro S.A.- Petrobras

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.