ARGA Investment Management LP decreased its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,102,265 shares of the oil and gas exploration company's stock after selling 209,140 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up 9.1% of ARGA Investment Management LP's holdings, making the stock its 2nd biggest position. ARGA Investment Management LP owned about 0.27% of Petroleo Brasileiro S.A.- Petrobras worth $356,924,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of PBR. Ameritas Advisory Services LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $31,000. Ascentis Independent Advisors acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $51,000. NFSG Corp boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 153.8% during the third quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company's stock worth $86,000 after buying an additional 2,500 shares during the period. GK Wealth Management LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at approximately $97,000. Finally, Vestor Capital LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $119,000.
Petroleo Brasileiro S.A.- Petrobras Stock Performance
NYSE PBR opened at $21.07 on Wednesday. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $26.39. The stock has a market cap of $135.82 billion, a price-to-earnings ratio of 5.34, a price-to-earnings-growth ratio of 1.89 and a beta of 0.33. The business has a fifty day moving average of $22.07 and a 200-day moving average of $19.13. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64.
Petroleo Brasileiro S.A.- Petrobras Dividend Announcement
The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is 10.86%.
Analyst Ratings Changes
Several analysts recently weighed in on PBR shares. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a report on Friday, October 30th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. increased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. UBS Group increased their target price on shares of 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. Finally, 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. One analyst has 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 data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of "Buy" and an average target price of $20.97.
Check Out Our Latest Stock Report on PBR
About Petroleo Brasileiro S.A.- Petrobras
(
Free Report)
Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil's energy sector and is headquartered in Rio de Janeiro.
Petrobras produces crude oil and natural gas, with a major focus on Brazil's deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.
Further Reading
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