Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) is GQG Partners LLC's 2nd Largest Position

Key Points

• GQG Partners LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 8.0%, owning 256 million shares valued at approximately $3.67 billion, making it the company's second-largest holding.
• Petroleo Brasileiro S.A.- Petrobras had a recent earnings miss, reporting $0.64 earnings per share, below the anticipated $0.70, while also generating revenues of $21.04 billion, exceeding expectations.
• Wall Street analysts have mixed ratings on the stock, with a consensus of "Buy" and an average target price of $17.40, reflecting optimism about its growth potential despite recent challenges.

GQG Partners LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,098,882 shares of the oil and gas exploration company's stock after acquiring an additional 18,862,848 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras comprises approximately 5.9% of GQG Partners LLC's investment portfolio, making the stock its 2nd biggest position. GQG Partners LLC owned about 3.97% of Petroleo Brasileiro S.A.- Petrobras worth $3,672,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PBR. Cohen & Steers Inc. increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 32.6% during the 4th quarter. Cohen & Steers Inc. now owns 278,369 shares of the oil and gas exploration company's stock worth $3,580,000 after purchasing an additional 68,363 shares during the last quarter. Dodge & Cox increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 4.8% during the 4th quarter. Dodge & Cox now owns 17,300 shares of the oil and gas exploration company's stock worth $222,000 after purchasing an additional 800 shares during the last quarter. NFJ Investment Group LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 24.3% during the 4th quarter. NFJ Investment Group LLC now owns 33,276 shares of the oil and gas exploration company's stock worth $428,000 after purchasing an additional 6,508 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 23.0% in the 4th quarter. Insigneo Advisory Services LLC now owns 185,513 shares of the oil and gas exploration company's stock valued at $2,386,000 after acquiring an additional 34,699 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 3.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 94,786 shares of the oil and gas exploration company's stock valued at $1,219,000 after acquiring an additional 3,022 shares during the period.

Wall Street Analyst Weigh In

PBR has been the topic of a number of research analyst reports. 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 target on the stock in a research note on Thursday, May 15th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Bank of America downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of "Buy" and an average price target of $17.40.

Petroleo Brasileiro S.A.- Petrobras Trading Down 1.0%

NYSE PBR traded down $0.13 during trading on Thursday, hitting $12.09. The stock had a trading volume of 15,214,892 shares, compared to its average volume of 25,379,858. The company has a market capitalization of $77.88 billion, a PE ratio of 5.65 and a beta of 0.85. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $12.55 and a 200 day moving average price of $12.71. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.73.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last released its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). The firm had revenue of $21.04 billion during the quarter, compared to analyst estimates of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. As a group, equities research analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, August 25th will be given a $0.2471 dividend. This represents a yield of 1,750.0%. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is currently 46.26%.

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.