ARGA Investment Management LP increased its stake in 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 and Exchange Commission. The institutional investor owned 11,036,110 shares of the oil and gas exploration company's stock after acquiring an additional 38,312 shares during the period. Petroleo Brasileiro S.A.- Petrobras makes up approximately 5.3% of ARGA Investment Management LP's investment portfolio, making the stock its 6th biggest position. ARGA Investment Management LP owned 0.17% of Petroleo Brasileiro S.A.- Petrobras worth $158,258,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $32,000. Kapitalo Investimentos Ltda lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 104.4% during the 4th quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 156,663 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at about $93,000. City Holding Co. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $97,000. Finally, Sunbelt Securities Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 67.0% during the 4th quarter. Sunbelt Securities Inc. now owns 10,031 shares of the oil and gas exploration company's stock worth $128,000 after buying an additional 4,026 shares during the last quarter.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. Finally, Jefferies Financial Group upgraded 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 report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $17.40.
View Our Latest Report on Petroleo Brasileiro S.A.- Petrobras
Petroleo Brasileiro S.A.- Petrobras Trading Down 0.1%
NYSE:PBR traded down $0.01 on Friday, reaching $12.82. The company's stock had a trading volume of 11,654,391 shares, compared to its average volume of 18,217,907. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $82.62 billion, a price-to-earnings ratio of 9.57 and a beta of 0.85. The stock has a 50 day moving average price of $12.18 and a 200 day moving average price of $12.86. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $15.73.
Petroleo Brasileiro S.A.- Petrobras Increases Dividend
The firm also recently announced a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.2806 per share. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. This represents a yield of 17.6%. The ex-dividend date is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is presently 73.88%.
Petroleo Brasileiro S.A.- Petrobras 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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