Quantbot Technologies LP Makes New $3.08 Million Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Quantbot Technologies LP acquired 215,027 shares of Petroleo Brasileiro S.A.- Petrobras, valued at approximately $3,083,000, during the first quarter.
• Bank of America downgraded Petrobras from a "buy" rating to a "neutral" rating, while Jefferies Financial Group upgraded it from "hold" to "buy" with a price target of $15.30.
• Petroléo Brasileiro S.A.- Petrobras reported $0.64 earnings per share for the last quarter, missing analysts' consensus estimates of $0.70 by $0.06.

Quantbot Technologies LP bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 215,027 shares of the oil and gas exploration company's stock, valued at approximately $3,083,000.

Other hedge funds also recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $32,000. Redwood Park Advisors LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock worth $53,000 after purchasing an additional 1,810 shares during the last quarter. Kapitalo Investimentos Ltda boosted its position in Petroleo Brasileiro S.A.- Petrobras by 104.4% in the fourth quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 156,663 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $93,000.

Analysts Set New Price Targets

PBR has been the topic of a number of recent research reports. UBS Group dropped their price target on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating on the stock in a research report on Friday. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. Jefferies Financial Group upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective on the stock in a research note on Thursday, May 15th. Finally, Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of "Buy" and an average target price of $16.78.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of NYSE:PBR traded up $0.1750 during midday trading on Monday, reaching $12.2550. 7,143,676 shares of the company traded hands, compared to its average volume of 21,119,461. The firm has a market capitalization of $78.98 billion, a price-to-earnings ratio of 5.72 and a beta of 0.85. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average price is $12.57 and its two-hundred day moving average price is $12.61. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $15.73.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last announced its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.06). The business had revenue of $21.04 billion during the quarter, compared to the consensus estimate of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. On average, equities analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, August 25th will be paid a $0.2471 dividend. This represents a yield of 1,750.0%. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is currently 46.26%.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA - Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.