Oaktree Fund Advisors LLC Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Oaktree Fund Advisors acquired 385,174 Petrobras shares worth approximately $8.0 million, making the stock 14% of its portfolio and its second-largest holding.
• Analyst sentiment is generally positive, with five Buy ratings, one Hold, and one Sell; MarketBeat reports a “Moderate Buy” consensus and an average price target of $19.28.
• Petrobras shares recently traded at $19.09, up 2.7%, while the company reported $0.96 in quarterly EPS and announced a special $0.1426-per-share dividend payable August 27.

Oaktree Fund Advisors LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 385,174 shares of the oil and gas exploration company's stock, valued at approximately $7,992,000. Petroleo Brasileiro S.A.- Petrobras accounts for 14.0% of Oaktree Fund Advisors LLC's portfolio, making the stock its 2nd largest holding.

Several other large investors also recently modified their holdings of the stock. GHP Investment Advisors Inc. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth about $26,000. Clearstead Advisors LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company's stock worth $28,000 after acquiring an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock worth $30,000 after acquiring an additional 1,044 shares during the last quarter. Ascentis Independent Advisors bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $51,000. Finally, Harbor Investment Advisory LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $54,000.

Wall Street Analysts Forecast Growth

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

Petroleo Brasileiro S.A.- Petrobras Trading Up 2.7%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $19.09 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The firm has a market cap of $122.99 billion, a PE ratio of 6.20, a P/E/G ratio of 0.82 and a beta of 0.33. The stock has a fifty day moving average price of $17.74 and a 200-day moving average price of $17.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its quarterly 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 for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. Equities research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

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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