Hennessy Advisors Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 93.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 855,400 shares of the oil and gas exploration company's stock after purchasing an additional 413,800 shares during the quarter. Hennessy Advisors Inc.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $13,823,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at about $42,858,000. Oxbow Advisors LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 1.5% in the 2nd quarter. Oxbow Advisors LLC now owns 457,176 shares of the oil and gas exploration company's stock valued at $7,388,000 after acquiring an additional 6,697 shares during the last quarter. First National Bank of Omaha lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 5.1% in the 2nd quarter. First National Bank of Omaha now owns 430,336 shares of the oil and gas exploration company's stock valued at $6,999,000 after acquiring an additional 20,945 shares during the last quarter. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $1,027,000. Finally, OneDigital Investment Advisors LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 9.3% during the 2nd quarter. OneDigital Investment Advisors LLC now owns 15,406 shares of the oil and gas exploration company's stock valued at $249,000 after acquiring an additional 1,309 shares during the period.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Weiss Ratings restated a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price 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 note on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.28.
Get Our Latest Stock Analysis on Petroleo Brasileiro S.A.- Petrobras
Petroleo Brasileiro S.A.- Petrobras Stock Up 1.5%
Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $18.52 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $22.24. The company has a market cap of $119.35 billion, a P/E ratio of 4.68, a PEG ratio of 0.75 and a beta of 0.33. The company's fifty day simple moving average is $17.81 and its two-hundred day simple moving average is $18.55.
Petroleo Brasileiro S.A.- Petrobras Announces Dividend
The business also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is 10.86%.
Petroleo Brasileiro S.A.- Petrobras Profile
(
Free Report)
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.
Further Reading
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