Fox Run Management L.L.C. Takes $1.42 Million Position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Key Points

• Fox Run Management L.L.C. acquired 98,692 shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the 1st quarter, valuing the purchase at approximately $1.415 million.
• Several hedge funds, including Dodge & Cox and NFJ Investment Group LLC, increased their stakes in Petrobras during the 4th quarter, reflecting growing institutional interest in the company.
• Petroleo Brasileiro S.A.- Petrobras recently reported quarterly earnings with an EPS of $0.64, which was below analysts' expectations, and announced a dividend payment scheduled for December 1st.

Fox Run Management L.L.C. bought a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 98,692 shares of the oil and gas exploration company's stock, valued at approximately $1,415,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GQG Partners LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.0% in the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company's stock valued at $3,672,458,000 after buying an additional 18,862,848 shares during the last quarter. Carrhae Capital LLP bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $64,765,000. Lazard Asset Management LLC lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 16.4% during the fourth quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company's stock worth $279,779,000 after purchasing an additional 3,072,312 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $29,984,000. Finally, Artemis Investment Management LLP boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 30.2% in the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company's stock worth $56,052,000 after purchasing an additional 905,800 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR stock traded up $0.01 on Friday, reaching $12.09. The company's stock had a trading volume of 14,799,811 shares, compared to its average volume of 25,502,350. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $15.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The company has a market capitalization of $77.91 billion, a P/E ratio of 5.65 and a beta of 0.85. The firm has a fifty day moving average of $12.57 and a two-hundred day moving average of $12.69.

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

Petroleo Brasileiro S.A.- Petrobras Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, August 25th will be issued a $0.2471 dividend. The ex-dividend date is Monday, August 25th. This represents a dividend yield of 1,750.0%. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is 46.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PBR shares. Bank of America downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen raised shares of 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 research note on Thursday, May 15th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.40.

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.