Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 400,768 shares of the oil and gas exploration company’s stock after selling 35,482 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,476,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after buying an additional 11,680 shares during the last quarter. Focus Partners Wealth raised its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after buying an additional 1,356 shares during the last quarter. Cresset Asset Management LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock valued at $201,000 after buying an additional 5,624 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 797.8% in the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock worth $235,000 after acquiring an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 35.0% in the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock worth $674,000 after acquiring an additional 13,988 shares in the last quarter.
Analyst Upgrades and Downgrades
PBR has been the topic of a number of recent research reports. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price target on 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $19.28.
Petroleo Brasileiro S.A.- Petrobras Price Performance
Shares of PBR opened at $17.89 on Friday. The company has a market capitalization of $115.26 billion, a P/E ratio of 4.52, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33. The company has a quick ratio of 0.49, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $17.63 and a 200 day moving average of $18.32. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24.
Petroleo Brasileiro S.A.- Petrobras Dividend Announcement
The firm also recently announced a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 8.59%.
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.
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