DJE Kapital AG Makes New $65.43 Million Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• DJE Kapital AG disclosed a new position in Petroleo Brasileiro S.A.- Petrobras, buying 3.10 million shares worth about $65.4 million in the first quarter. The stake represents 1.4% of DJE Kapital AG’s portfolio and is its 22nd-largest holding.
• Petrobras shares were up 1.2% and recently traded at $18.18, with the stock carrying a market value of $117.19 billion and a relatively low beta of 0.33. The company also reported strong quarterly results, including $0.96 EPS and $23.54 billion in revenue.
• The company announced a special dividend of $0.1426 per share, payable on August 27 to shareholders of record on June 3. Analyst sentiment is mixed but positive overall, with a consensus rating of Moderate Buy and an average price target of $19.28.

DJE Kapital AG acquired a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,103,800 shares of the oil and gas exploration company's stock, valued at approximately $65,428,000. Petroleo Brasileiro S.A.- Petrobras accounts for 1.4% of DJE Kapital AG's investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors increased its position in Petroleo Brasileiro S.A.- Petrobras by 51.6% during the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company's stock worth $363,052,000 after purchasing an additional 10,425,563 shares in the last quarter. DNB Asset Management AS acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at approximately $21,778,000. Mondrian Investment Partners LTD grew its stake in Petroleo Brasileiro S.A.- Petrobras by 14.1% during the fourth quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company's stock worth $149,963,000 after buying an additional 1,562,473 shares during the period. Fearnley Asset Management AS acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $17,590,000. Finally, Fundamenta Capital S.A. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $16,064,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 1.2%

NYSE PBR opened at $18.18 on Tuesday. The company has a market capitalization of $117.19 billion, a price-to-earnings ratio of 5.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The company's fifty day moving average price is $17.98 and its two-hundred day moving average price is $17.55.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last released its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The company had revenue of $23.54 billion during the quarter. As a group, research analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.28 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Analysts Set New Price Targets

PBR has been the topic of several recent research reports. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and lifted their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. JPMorgan Chase & Co. reduced their price objective on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, May 12th. Finally, Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Company 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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