535,490 Shares in Petroleo Brasileiro S.A.- Petrobras $PBR Bought by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd initiated a position in Petrobras by purchasing 535,490 shares valued at approximately $11.2 million during the third quarter.
• Several other institutional investors also increased or initiated holdings, including Artemis Investment Management, Oaktree Capital Management, Carrhae Capital, DJE Kapital and Ohio’s public employees’ retirement system.
• Petrobras declared a special dividend of $0.2649 per share, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating; the stock recently traded near its 52-week high.

Ninety One UK Ltd bought a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 535,490 shares of the oil and gas exploration company's stock, valued at approximately $11,176,000.

Other hedge funds also recently made changes to their positions in the company. Artemis Investment Management LLP raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 4.2% during the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company's stock valued at $138,640,000 after buying an additional 270,422 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $126,355,000. Carrhae Capital LLP bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $87,456,000. DJE Kapital AG bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $42,858,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $25.27 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The company has a market cap of $162.82 billion, a PE ratio of 6.55, a P/E/G ratio of 1.00 and a beta of 0.29. The business has a 50 day moving average of $20.72 and a 200 day moving average of $19.61. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $25.95.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is 10.86%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Tuesday, September 1st. Wall Street Zen lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 11th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. Finally, UBS Group boosted their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Moderate Buy" and an average price target of $20.97.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil's pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.

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