Candriam S.C.A. Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Candriam S.C.A. acquired 33,041 shares of Petroleo Brasileiro S.A.- Petrobras, totaling approximately $474,000, as noted in a recent SEC filing.
• The stock received mixed ratings from analysts; while Bank of America downgraded it to "neutral," other firms like Jefferies upgraded it to "buy," establishing a target price of $15.30.
• Petrobras declared a dividend of $0.2471 per share with a yield of 1,750.0%, set to be paid on December 1st, while currently maintaining a dividend payout ratio of 46.26%.

Candriam S.C.A. bought a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 33,041 shares of the oil and gas exploration company's stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Financial Gravity Asset Management Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $32,000. Redwood Park Advisors LLC increased its holdings 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 valued at $53,000 after buying an additional 1,810 shares in the last quarter. Kapitalo Investimentos Ltda increased its position in shares of 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 valued at $86,000 after buying an additional 156,663 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at $93,000.

Wall Street Analysts Forecast Growth

PBR has been the subject of a number of research reports. Jefferies Financial Group raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price for the company in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. UBS Group cut their price target on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a report on Friday, August 22nd. Finally, Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $16.14.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.4%

PBR stock traded up $0.05 during mid-day trading on Friday, hitting $12.41. 14,656,492 shares of the company were exchanged, compared to its average volume of 21,065,184. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $15.50. The firm has a market capitalization of $79.94 billion, a P/E ratio of 5.80 and a beta of 0.85. The business has a fifty day simple moving average of $12.51 and a 200-day simple moving average of $12.58. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

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

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, August 25th will be paid a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 47.66%.

Petroleo Brasileiro S.A.- Petrobras Profile

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.