Ted Buchan & Co lessened its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report) by 25.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 191,403 shares of the oil and gas exploration company’s stock after selling 63,933 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up 0.8% of Ted Buchan & Co’s holdings, making the stock its 28th largest holding. Ted Buchan & Co’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,268,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital International Investors boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 14.7% during the third quarter. Capital International Investors now owns 20,211,745 shares of the oil and gas exploration company’s stock valued at $255,881,000 after purchasing an additional 2,592,536 shares during the period. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.9% in the 4th quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock worth $224,856,000 after buying an additional 166,472 shares during the period. Mondrian Investment Partners LTD lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.1% during the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock valued at $149,963,000 after buying an additional 1,562,473 shares in the last quarter. Earnest Partners LLC lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 52.0% during the 3rd quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock valued at $61,685,000 after buying an additional 1,665,873 shares in the last quarter. Finally, Perpetual Ltd boosted its position in Petroleo Brasileiro S.A.- Petrobras by 0.5% in the 4th quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock valued at $39,262,000 after buying an additional 18,100 shares during the period.
Petroleo Brasileiro S.A.- Petrobras Stock Down 2.6%
Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $18.24 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. The stock has a market cap of $117.51 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.75 and a beta of 0.32. The firm’s 50-day moving average is $20.41 and its two-hundred day moving average is $16.42. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24.
Petroleo Brasileiro S.A.- Petrobras Announces Dividend
The firm also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be paid a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 10.71%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on PBR shares. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. The Goldman Sachs Group lifted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. JPMorgan Chase & Co. dropped 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. Finally, Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their target price for the company from $20.30 to $19.00 in a research report on Friday, March 13th. Five research 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.28.
Get Our Latest Research Report on Petroleo Brasileiro S.A.- Petrobras
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.
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