Petroleo Brasileiro S.A.- Petrobras $PBR Stock Holdings Boosted by Lumbard & Kellner LLC

Key Points

• Lumbard & Kellner LLC boosted its position in Petroleo Brasileiro S.A. (NYSE: PBR) by 39.3%, adding 199,527 shares to reach 707,365 shares worth $8.382 million, about 2.9% of the fund's portfolio and its 9th-largest holding.
• Several analysts have upgraded PBR—most notably Bank of America to a Buy with a target raised to $24.80—and the consensus rating is a "Moderate Buy" with an average target of $18.35.
• Petrobras declared a special dividend of $0.1191 per share, payable May 28, with the record and ex-dividend date on April 24.

Lumbard & Kellner LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 39.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,365 shares of the oil and gas exploration company's stock after purchasing an additional 199,527 shares during the period. Petroleo Brasileiro S.A.- Petrobras comprises approximately 2.9% of Lumbard & Kellner LLC's portfolio, making the stock its 9th biggest holding. Lumbard & Kellner LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $8,382,000 at the end of the most recent reporting period.

Several other institutional investors have also 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 approximately $26,000. Geneos Wealth Management Inc. lifted its stake 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 last quarter. Bayforest Capital Ltd purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at approximately $39,000. BNP Paribas lifted its stake 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 last quarter. Finally, New Millennium Group LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at approximately $59,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 31st. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and upped their price objective for the company from $18.70 to $24.80 in a research note on Friday, April 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, April 10th. UBS Group increased their target price on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a "buy" rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Trading Down 2.4%

NYSE:PBR opened at $20.40 on Friday. The company has a market cap of $131.48 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.77 and a beta of 0.38. The stock's fifty day moving average price is $19.82 and its two-hundred day moving average price is $15.42. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.71 and a quick ratio of 0.48.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $23.61 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%. As a group, analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.66 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Petroleo Brasileiro S.A.- Petrobras 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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