Petroleo Brasileiro S.A.- Petrobras $PBR is ARGA Investment Management LP's 5th Largest Position

Key Points

• ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A. (Petrobras) by 0.9% in Q4, buying 166,472 shares to hold 18,975,177 shares (about 0.29% of the company) worth $224.86 million, making Petrobras its 5th largest holding (6.1% of ARGA's portfolio).
• Special dividend announced: Petrobras declared a special dividend of $0.1191 per share payable May 28, with record and ex-dividend dates on April 24; the company's dividend payout ratio is 10.86%.
• Market and analyst snapshot: PBR shares opened near $20.98 with a market cap of $135.2B and a P/E of 6.90, and analysts rate the stock a consensus "Moderate Buy" with an average price target of $18.35 (mix of 1 Strong Buy, 3 Buy, 2 Hold).

ARGA Investment Management LP grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,975,177 shares of the oil and gas exploration company's stock after buying an additional 166,472 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras accounts for 6.1% of ARGA Investment Management LP's portfolio, making the stock its 5th largest position. ARGA Investment Management LP owned about 0.29% of Petroleo Brasileiro S.A.- Petrobras worth $224,856,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PBR. GHP Investment Advisors Inc. purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at about $26,000. Geneos Wealth Management Inc. raised its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% in 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 purchasing an additional 1,044 shares during the period. Bayforest Capital Ltd purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at about $39,000. BNP Paribas raised its position in Petroleo Brasileiro S.A.- Petrobras by 241.9% in the third quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company's stock valued at $54,000 after purchasing an additional 3,000 shares during the period. Finally, New Millennium Group LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at about $59,000.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.5%

Shares of NYSE:PBR opened at $20.98 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $19.15 and a 200 day simple moving average of $15.01. The firm has a market cap of $135.22 billion, a PE ratio of 6.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.37. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $22.05.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its quarterly earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $23.61 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 22.01% and a return on equity of 24.26%. On average, equities research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, May 28th. Stockholders of record on Friday, April 24th will be given a dividend of $0.1191 per share. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 10.86%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "hold" rating and lowered their price objective for the company from $20.30 to $19.00 in a research report on Friday, March 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, April 10th. The Goldman Sachs Group lifted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research note on Sunday, March 22nd. Finally, Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of "Moderate Buy" and an average price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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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