Kapitalo Investimentos Ltda Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Kapitalo Investimentos acquired 57,805 Petrobras shares during the third quarter, valued at approximately $1.2 million. Several other institutional investors also initiated or expanded positions in the company.
• Analyst sentiment is generally positive: six analysts rate Petrobras a Buy and two rate it Hold, producing a consensus rating of Moderate Buy and an average price target of $20.97.
• Petrobras declared a special dividend of $0.2649 per share, with payment scheduled for December 1; the company’s shares recently traded near their 52-week high at $25.74.

Kapitalo Investimentos Ltda acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 57,805 shares of the oil and gas exploration company's stock, valued at approximately $1,206,000.

A number of other hedge funds also recently made changes to their positions in PBR. Artemis Investment Management LLP grew its position in Petroleo Brasileiro S.A.- Petrobras by 4.2% in the third quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company's stock worth $138,640,000 after acquiring an additional 270,422 shares in the last quarter. Oaktree Capital Management LP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at about $126,355,000. Carrhae Capital LLP bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $87,456,000. DJE Kapital AG bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $42,858,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PBR. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. UBS Group boosted their target price on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 23rd. Wall Street Zen lowered Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 11th. Finally, JPMorgan Chase & Co. upped their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $25.74 on Wednesday. The firm has a market cap of $165.85 billion, a P/E ratio of 6.45, a P/E/G ratio of 2.28 and a beta of 0.29. The firm's fifty day moving average is $21.17 and its 200 day moving average is $19.72. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $26.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is presently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil's energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil's deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.

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