Carrhae Capital LLP Takes Position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Carrhae Capital LLP bought a new position in shares of 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 & Exchange Commission. The fund bought 4,516,382 shares of the oil and gas exploration company's stock, valued at approximately $64,765,000. Petroleo Brasileiro S.A.- Petrobras makes up about 4.7% of Carrhae Capital LLP's portfolio, making the stock its 7th biggest position. Carrhae Capital LLP owned 0.07% of Petroleo Brasileiro S.A.- Petrobras at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PBR. GQG Partners LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 2.6% during the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company's stock worth $3,050,855,000 after acquiring an additional 6,016,560 shares in the last quarter. Lazard Asset Management LLC raised 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 acquiring an additional 3,072,312 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $29,984,000. Artemis Investment Management LLP raised its stake in Petroleo Brasileiro S.A.- Petrobras by 30.2% during 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 acquiring an additional 905,800 shares in the last quarter. Finally, Lesa Sroufe & Co acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $4,900,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR traded down $0.04 during midday trading on Thursday, hitting $12.33. 12,770,516 shares of the company traded hands, compared to its average volume of 18,254,305. The stock has a 50-day moving average of $12.25 and a 200-day moving average of $12.85. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $15.73. The firm has a market cap of $79.43 billion, a P/E ratio of 9.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47.

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. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a yield of 17.6%. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is 73.88%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PBR. 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. Jefferies Financial Group upgraded 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 report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $17.40.

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.