Ashoka WhiteOak Capital Pte Ltd Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Ashoka WhiteOak Capital acquired 1.19 million Petrobras shares worth approximately $24.5 million, making PBR about 7.2% of its portfolio and its third-largest holding.
• Other major investors, including Artemis Investment Management and RWC Asset Advisors, increased their positions, while several firms established new stakes in Petrobras.
• PBR traded at $21.91, with a low valuation of 5.53 times earnings; the company also declared a special dividend of $0.2649 per share, while analysts maintained a generally positive “Moderate Buy” consensus.

Ashoka WhiteOak Capital Pte Ltd acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,186,750 shares of the oil and gas exploration company's stock, valued at approximately $24,506,000. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 7.2% of Ashoka WhiteOak Capital Pte Ltd's portfolio, making the stock its 3rd largest position.

Several other large investors have also recently bought and sold shares of PBR. Artemis Investment Management LLP boosted its position in shares of 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 worth $138,640,000 after purchasing an additional 270,422 shares in the last quarter. Oaktree Capital Management LP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $126,355,000. RWC Asset Advisors US LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 17.7% during the third quarter. RWC Asset Advisors US LLC now owns 4,409,205 shares of the oil and gas exploration company's stock worth $92,020,000 after buying an additional 662,712 shares in the last quarter. Carrhae Capital LLP acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $87,456,000. Finally, DJE Kapital AG acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $65,428,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.6%

PBR stock opened at $21.91 on Friday. The company's 50 day simple moving average is $21.92 and its 200-day simple moving average is $18.99. The firm has a market capitalization of $141.18 billion, a PE ratio of 5.53, a P/E/G ratio of 1.97 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $26.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 10.86%.

Key Headlines Impacting Petroleo Brasileiro S.A.- Petrobras

Here are the key news stories impacting Petroleo Brasileiro S.A.- Petrobras this week:

• Positive Sentiment: Petrobras reported record third-quarter production of 3.51 million barrels of oil equivalent per day, an 11.7% increase from the prior year. Higher output could support revenue, cash flow and dividend capacity. Petrobras' third-quarter oil and gas output rises 12% from a year earlier
• Positive Sentiment: The company made its third oil discovery in an offshore block near Brazil’s Amapá state. Although commercial potential still needs to be evaluated, the discovery adds to Petrobras’ long-term exploration upside. Brazil's Petrobras makes third oil discovery in block off Amapa state
• Positive Sentiment: Halliburton deployed its ROCS completion technology with Petrobras in Brazil. The system is designed to reduce equipment requirements and offshore complexity in deepwater wells, potentially improving project efficiency and costs. Halliburton Deploys ROCS Technology With Petrobras in Brazil
• Neutral Sentiment: Analyst and researcher commentary is circulating, but the available coverage does not identify a major new change to Petrobras’ valuation or consensus outlook. What Are Researchers Thinking About This Stock?
• Negative Sentiment: Shares have faced pressure after President Luiz Inácio Lula da Silva’s reelection, as investors worry about political intervention, fuel-pricing decisions and capital allocation at the state-controlled oil company. PBR Stock Slides After Brazil Election

Wall Street Analysts Forecast Growth

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

Petroleo Brasileiro S.A.- Petrobras Profile

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.

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