Hennessy Advisors Inc. Buys 413,800 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Hennessy Advisors Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 93.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 855,400 shares of the oil and gas exploration company’s stock after purchasing an additional 413,800 shares during the period. Hennessy Advisors Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $13,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $42,858,000. Oxbow Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 1.5% during the second quarter. Oxbow Advisors LLC now owns 457,176 shares of the oil and gas exploration company’s stock valued at $7,388,000 after purchasing an additional 6,697 shares in the last quarter. First National Bank of Omaha lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 5.1% during the second quarter. First National Bank of Omaha now owns 430,336 shares of the oil and gas exploration company’s stock valued at $6,999,000 after purchasing an additional 20,945 shares in the last quarter. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at $1,027,000. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 9.3% during the second quarter. OneDigital Investment Advisors LLC now owns 15,406 shares of the oil and gas exploration company’s stock valued at $249,000 after buying an additional 1,309 shares during the last quarter.

Analyst Ratings Changes

PBR has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Trading Up 1.5%

Shares of NYSE PBR opened at $18.52 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $22.24. The stock has a market capitalization of $119.35 billion, a P/E ratio of 4.68, a PEG ratio of 0.75 and a beta of 0.33. The business’s 50 day moving average is $17.81 and its two-hundred day moving average is $18.55.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Company 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.