Petroleo Brasileiro S.A.- Petrobras $PBR Shares Bought by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Petrobras stake by 4.2% in the third quarter, purchasing 270,422 additional shares. It now owns 6.64 million shares valued at approximately $138.6 million.
• Analyst sentiment is generally positive: Petrobras has a consensus rating of “Moderate Buy”, with five Buy ratings and two Holds and an average price target of $21.16.
• Petrobras shares recently traded at $24.71, near their 52-week high of $24.77. The company also announced a special dividend of $0.2649 per share, representing a payout ratio of 10.86%.

Artemis Investment Management LLP grew its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,643,028 shares of the oil and gas exploration company's stock after purchasing an additional 270,422 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up approximately 1.1% of Artemis Investment Management LLP's holdings, making the stock its 27th biggest holding. Artemis Investment Management LLP owned about 0.10% of Petroleo Brasileiro S.A.- Petrobras worth $138,640,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PBR. Oaktree Capital Management LP bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $126,355,000. Carrhae Capital LLP acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $87,456,000. DJE Kapital AG acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $65,428,000. Public Employees Retirement System of Ohio bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at approximately $42,858,000. Finally, Annex Advisory Services LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 2.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,182,965 shares of the oil and gas exploration company's stock valued at $35,277,000 after acquiring an additional 50,612 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on PBR. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 3rd. UBS Group lifted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Tuesday, September 1st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR traded up $0.72 during midday trading on Thursday, hitting $24.71. 16,596,858 shares of the stock traded hands, compared to its average volume of 22,849,330. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $24.77. The firm has a market capitalization of $159.25 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 0.93 and a beta of 0.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The business's 50 day moving average price is $19.94 and its two-hundred day moving average price is $19.38.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is presently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil's pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.

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