Lesa Sroufe & Co Invests $4.90 Million in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Lesa Sroufe & Co acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 341,712 shares of the oil and gas exploration company's stock, valued at approximately $4,900,000. Petroleo Brasileiro S.A.- Petrobras makes up approximately 4.9% of Lesa Sroufe & Co's portfolio, making the stock its 3rd biggest holding.

Other hedge funds have also recently modified their holdings of the company. GQG Partners LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 2.6% in the 4th quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company's stock worth $3,050,855,000 after buying an additional 6,016,560 shares during the period. Lazard Asset Management LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 16.4% in the 4th quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company's stock worth $279,779,000 after buying an additional 3,072,312 shares during the period. Fisher Asset Management LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 15,887,984 shares of the oil and gas exploration company's stock worth $204,319,000 after buying an additional 68,337 shares during the period. RWC Asset Management LLP increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 9.8% in the 4th quarter. RWC Asset Management LLP now owns 2,142,912 shares of the oil and gas exploration company's stock worth $27,558,000 after buying an additional 190,435 shares during the period. Finally, Annex Advisory Services LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 20.5% in the 1st quarter. Annex Advisory Services LLC now owns 1,818,558 shares of the oil and gas exploration company's stock worth $26,078,000 after buying an additional 309,752 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR traded down $0.07 during midday trading on Wednesday, hitting $13.01. 21,208,202 shares of the company traded hands, compared to its average volume of 17,893,928. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $83.81 billion, a price-to-earnings ratio of 9.71 and a beta of 0.84. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $15.73. The business has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $12.97.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be paid a $0.2806 dividend. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. This represents a dividend yield of 17.6%. The ex-dividend date is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is currently 73.88%.

Analyst Ratings Changes

A number of brokerages have recently commented on PBR. 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 objective on the stock in a research note on Thursday, May 15th. Hsbc Global Res raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. HSBC raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Wednesday, March 5th. 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 cut 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $17.47.

Petroleo Brasileiro S.A.- Petrobras Profile

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.