Point72 Europe London LLP Invests $9.38 Million in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Point72 Europe London LLP has acquired 653,868 shares in Petroleo Brasileiro S.A. - Petrobras, valued at approximately $9.4 million, indicating growing institutional interest in the company.
• Petrobras recently declared a special dividend of $0.0739 per share, set to be paid on December 30th, following a dividend payout ratio of 48.13%.
• Analysts have mixed views on Petrobras, with recent ratings showing upgrades from Jefferies and Wall Street Zen, while UBS and Bank of America have reduced their price targets.

Point72 Europe London LLP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 653,868 shares of the oil and gas exploration company's stock, valued at approximately $9,376,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $34,000. Redwood Park Advisors LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% during 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 purchasing an additional 1,810 shares during the period. Finally, City Holding Co. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $97,000.

Wall Street Analyst Weigh In

PBR has been the subject of a number of recent analyst reports. UBS Group decreased their target price 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. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group upgraded 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. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $16.14.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.5%

PBR traded up $0.07 during trading on Thursday, reaching $12.38. The stock had a trading volume of 21,401,200 shares, compared to its average volume of 21,084,176. The stock's 50 day moving average is $12.49 and its two-hundred day moving average is $12.54. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $79.76 billion, a price-to-earnings ratio of 5.78 and a beta of 0.91. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $15.34.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.06). The firm 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%. As a group, analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently announced 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 of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is currently 47.66%.

Petroleo Brasileiro S.A.- Petrobras Company 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.