Oaktree Capital Management LP Takes $126.36 Million Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Oaktree Capital Management acquired 6.09 million Petrobras shares worth approximately $126.4 million, giving it a 0.09% stake and making PBR its 11th-largest portfolio holding.
• Petrobras reported quarterly earnings of $0.96 per share on $23.54 billion in revenue, with a 21.67% net margin and 23.65% return on equity.
• The company announced a special dividend of $0.1426 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $19.28.

Oaktree Capital Management LP purchased a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,089,413 shares of the oil and gas exploration company's stock, valued at approximately $126,355,000. Petroleo Brasileiro S.A.- Petrobras makes up 1.6% of Oaktree Capital Management LP's investment portfolio, making the stock its 11th largest holding. Oaktree Capital Management LP owned approximately 0.09% of Petroleo Brasileiro S.A.- Petrobras at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PBR. GHP Investment Advisors Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at $26,000. Clearstead Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company's stock valued at $28,000 after acquiring an additional 1,706 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock valued at $30,000 after acquiring an additional 1,044 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at $39,000. Finally, Ascentis Independent Advisors bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $51,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock opened at $18.61 on Thursday. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The firm's 50 day moving average is $17.76 and its 200-day moving average is $17.88. The firm has a market capitalization of $119.96 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.80 and a beta of 0.33. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

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. The company had revenue of $23.54 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%. Sell-side analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Wall Street Analyst Weigh In

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

About Petroleo Brasileiro S.A.- Petrobras

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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