Morningstar Investment Management LLC decreased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report) by 41.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,033 shares of the oil and gas exploration company’s stock after selling 89,954 shares during the quarter. Morningstar Investment Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,594,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 51.6% during the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after buying an additional 10,425,563 shares in the last quarter. DJE Kapital AG acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $65,428,000. DNB Asset Management AS bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at approximately $21,778,000. Mondrian Investment Partners LTD lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 14.1% in the fourth quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after buying an additional 1,562,473 shares during the last quarter. Finally, Fearnley Asset Management AS bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at about $17,590,000.
Petroleo Brasileiro S.A.- Petrobras Stock Down 1.2%
NYSE PBR opened at $18.77 on Friday. The stock has a market capitalization of $120.93 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 0.83 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $22.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. The stock has a fifty day moving average of $17.88 and a 200-day moving average of $17.70.
Petroleo Brasileiro S.A.- Petrobras Dividend Announcement
The firm also recently declared a special dividend, which will be paid on Thursday, August 27th. Stockholders 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 payout ratio is currently 11.04%.
Wall Street Analyst Weigh In
A number of brokerages have commented on PBR. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. decreased their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Finally, Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.28.
View Our Latest Research Report on PBR
Petroleo Brasileiro S.A.- Petrobras 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.
Featured Articles
- Five stocks we like better than Petroleo Brasileiro S.A.- Petrobras
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding PBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report).
Receive News & Ratings for Petroleo Brasileiro S.A.- Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petroleo Brasileiro S.A.- Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.
