Cullen Capital Management LLC Purchases 694,992 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Cullen Capital Management increased its Petrobras stake by 44.1% in the fourth quarter, buying 694,992 shares and bringing its total holdings to 2,271,269 shares valued at about $26.9 million.
• Petrobras shares were trading around $18.37, with the company carrying a market cap of $118.35 billion and a low valuation profile, including a P/E ratio of 5.96.
• The company reported Q1 EPS of $0.96 and announced a special dividend of $0.1426 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $19.28.

Cullen Capital Management LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 44.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,271,269 shares of the oil and gas exploration company's stock after acquiring an additional 694,992 shares during the quarter. Cullen Capital Management LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $26,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Petroleo Brasileiro S.A.- Petrobras by 55.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company's stock worth $471,000 after acquiring an additional 11,680 shares in the last quarter. Focus Partners Wealth raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company's stock valued at $296,000 after purchasing an additional 1,356 shares during the period. Cresset Asset Management LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 55.9% in the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company's stock valued at $201,000 after purchasing an additional 5,624 shares during the period. NewEdge Advisors LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% in the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company's stock valued at $235,000 after purchasing an additional 16,699 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% in the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company's stock valued at $674,000 after purchasing an additional 13,988 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.7%

PBR stock opened at $18.37 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. The company's 50-day simple moving average is $20.08 and its 200 day simple moving average is $16.65. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $22.24. The company has a market capitalization of $118.35 billion, a PE ratio of 5.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion for the quarter. As a group, sell-side analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be paid a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is 11.04%.

Wall Street Analysts Forecast Growth

PBR has been the topic of several research analyst reports. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Sunday, March 22nd. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and increased their price objective for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil's energy sector and is a listed public company with global capital market presence.

Petrobras's core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil's coast.

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