Petroleo Brasileiro S.A.- Petrobras $PBR Stock Holdings Lifted by RWC Asset Management LLP

Key Points

• RWC Asset Management increased its Petrobras stake by 14.6% in the third quarter, acquiring 384,816 additional shares for a total position of 3.01 million shares valued at approximately $62.9 million.
• Analyst sentiment is broadly positive: six analysts rate PBR a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $20.97.
• Petrobras shares rose 2.2% to $26.18, near their 52-week high, while the company declared a special dividend of $0.2649 per share with a 10.86% payout ratio.

RWC Asset Management LLP lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 14.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,014,940 shares of the oil and gas exploration company's stock after buying an additional 384,816 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up about 2.3% of RWC Asset Management LLP's holdings, making the stock its 11th largest position. RWC Asset Management LLP's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $62,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $31,000. Ascentis Independent Advisors acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $51,000. Harbor Investment Advisory LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $54,000. NFSG Corp increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 153.8% during the 3rd quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 2,500 shares in the last quarter. Finally, GK Wealth Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter worth approximately $97,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PBR shares. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. increased their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 23rd. Wall Street Zen cut Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 11th. Finally, Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 9th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Trading Up 2.2%

Shares of NYSE PBR traded up $0.56 during midday trading on Friday, reaching $26.18. 25,119,756 shares of the stock were exchanged, compared to its average volume of 23,616,078. The stock has a 50 day moving average price of $21.65 and a 200-day moving average price of $19.84. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $168.70 billion, a P/E ratio of 6.61, a P/E/G ratio of 2.29 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $26.39.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil's energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil's deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.

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