Petroleo Brasileiro S.A.- Petrobras $PBR Stock: RWC Asset Advisors US LLC Increases Stake

Key Points

• RWC Asset Advisors increased its Petrobras stake by 17.7% in the third quarter, adding 662,712 shares to own 4.41 million shares valued at approximately $92 million.
• Petrobras has attracted additional institutional interest, while analysts maintain a broadly positive view: six rate the stock Buy and two Hold, producing a consensus “Moderate Buy” rating with a $20.97 average price target.
• The stock recently traded at $26.18, near its 12-month high of $26.39, and the company announced a special dividend of $0.2649 per share.

RWC Asset Advisors US LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 17.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,409,205 shares of the oil and gas exploration company's stock after buying an additional 662,712 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras accounts for 24.4% of RWC Asset Advisors US LLC's investment portfolio, making the stock its largest holding. RWC Asset Advisors US LLC owned 0.07% of Petroleo Brasileiro S.A.- Petrobras worth $92,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oaktree Capital Management LP purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $126,355,000. Carrhae Capital LLP bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $87,456,000. DJE Kapital AG purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $65,428,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $42,858,000. Finally, Franchise GP Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at about $17,660,000.

Analyst Ratings Changes

PBR has been the topic of several analyst reports. UBS Group boosted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Tuesday, September 1st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Wall Street Zen cut shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Finally, 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. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Moderate Buy" and an average price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock traded up $0.56 during trading hours on Friday, hitting $26.18. 25,119,756 shares of the company's stock traded hands, compared to its average volume of 23,616,078. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $26.39. The stock has a market capitalization of $168.70 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 2.29 and a beta of 0.29. The company has a fifty day simple moving average of $21.65 and a 200-day simple moving average of $19.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be issued a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is 10.86%.

About Petroleo Brasileiro S.A.- Petrobras

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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