Artemis Investment Management LLP Grows Stock Position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Artemis Investment Management LLP grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 30.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,908,771 shares of the oil and gas exploration company's stock after acquiring an additional 905,800 shares during the quarter. Artemis Investment Management LLP owned about 0.06% of Petroleo Brasileiro S.A.- Petrobras worth $56,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GQG Partners LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 2.6% in the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company's stock valued at $3,050,855,000 after purchasing an additional 6,016,560 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 16.4% in the 4th quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company's stock valued at $279,779,000 after purchasing an additional 3,072,312 shares during the last quarter. Lesa Sroufe & Co acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $4,900,000. Annex Advisory Services LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 20.5% in the first quarter. Annex Advisory Services LLC now owns 1,818,558 shares of the oil and gas exploration company's stock valued at $26,078,000 after acquiring an additional 309,752 shares during the last quarter. Finally, Parkwood LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 84.2% during the fourth quarter. Parkwood LLC now owns 529,116 shares of the oil and gas exploration company's stock valued at $6,804,000 after acquiring an additional 241,884 shares during the period.

Analyst Ratings Changes

PBR has been the subject of a number of research reports. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Hsbc Global Res upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Jefferies Financial Group raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective for the company in a research report on Thursday, May 15th. Bank of America lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Finally, HSBC raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $17.47.

Petroleo Brasileiro S.A.- Petrobras Trading Up 1.5%

NYSE PBR opened at $12.46 on Friday. The company's fifty day simple moving average is $11.88 and its 200-day simple moving average is $12.91. The stock has a market cap of $80.26 billion, a P/E ratio of 9.29 and a beta of 0.84. 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 current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The company also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, June 4th will be issued a $0.2806 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a yield of 17.6%. This is a positive change from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. Petroleo Brasileiro S.A.- Petrobras's payout ratio is currently 73.88%.

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.

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