NewEdge Wealth LLC Has $1.25 Million Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

NewEdge Wealth LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 62.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,184 shares of the oil and gas exploration company’s stock after acquiring an additional 29,936 shares during the quarter. NewEdge Wealth LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBR. Qube Research & Technologies Ltd bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the third quarter worth about $62,049,000. RWC Asset Advisors US LLC raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 117.2% during the third quarter. RWC Asset Advisors US LLC now owns 5,666,762 shares of the oil and gas exploration company’s stock valued at $84,945,000 after acquiring an additional 3,057,798 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 78.9% during the third quarter. Artemis Investment Management LLP now owns 5,147,860 shares of the oil and gas exploration company’s stock valued at $77,131,000 after acquiring an additional 2,269,946 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 1,412.1% during the first quarter. Two Sigma Investments LP now owns 2,315,038 shares of the oil and gas exploration company’s stock valued at $24,146,000 after acquiring an additional 2,161,938 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the third quarter valued at $31,479,000.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.4 %

PBR opened at $15.78 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $10.01 and a 1-year high of $17.91. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average price of $16.09 and a two-hundred day moving average price of $15.78.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.15. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. The firm had revenue of $27.11 billion during the quarter, compared to the consensus estimate of $26.45 billion. Analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

PBR has been the subject of several analyst reports. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, March 25th. UBS Group lifted their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research note on Monday, March 25th. Bank of America downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Friday, March 8th. Finally, Morgan Stanley downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.76.

Petróleo 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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also 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.