ARGA Investment Management LP boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,036,110 shares of the oil and gas exploration company's stock after acquiring an additional 38,312 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras comprises 5.3% of ARGA Investment Management LP's holdings, making the stock its 6th largest holding. ARGA Investment Management LP owned approximately 0.17% of Petroleo Brasileiro S.A.- Petrobras worth $158,258,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBR. Wayfinding Financial LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $32,000. Kapitalo Investimentos Ltda raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 104.4% in the 4th quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock valued at $86,000 after purchasing an additional 156,663 shares in the last quarter. City Holding Co. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $97,000. Parvin Asset Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth approximately $93,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 67.0% in the fourth quarter. Sunbelt Securities Inc. now owns 10,031 shares of the oil and gas exploration company's stock valued at $128,000 after buying an additional 4,026 shares during the last quarter.
Petroleo Brasileiro S.A.- Petrobras Trading Down 2.0%
Shares of NYSE PBR traded down $0.26 during trading on Wednesday, hitting $12.87. 18,171,175 shares of the company traded hands, compared to its average volume of 18,204,366. The company has a 50-day moving average price of $12.09 and a 200-day moving average price of $12.86. The firm has a market capitalization of $82.94 billion, a P/E ratio of 9.60 and a beta of 0.85. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.73.
Petroleo Brasileiro S.A.- Petrobras Increases Dividend
The business also recently declared a -- dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, June 4th will be issued a $0.2806 dividend. This represents a yield of 17.6%. The ex-dividend date is Wednesday, June 4th. This is a boost from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is currently 73.88%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on PBR. Jefferies Financial Group upgraded 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 report on Thursday, May 15th. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Finally, 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. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $17.40.
Read Our Latest Stock Report on PBR
Petroleo Brasileiro S.A.- Petrobras Company Profile
(
Free Report)
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.
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