Ping Capital Management Inc. Acquires 124,100 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Ping Capital Management raised its stake in Petroleo Brasileiro S.A. (NYSE: PBR) by 46.3% in Q4, buying 124,100 shares to hold 392,100 shares (about 1.3% of its portfolio) valued at $4.646 million.
• Petrobras announced a special dividend of $0.1191 per share payable May 28, with the record and ex-dividend date on April 24; the company's payout ratio is 10.86%.
• Analyst sentiment has improved with multiple upgrades from firms like UBS, Goldman Sachs and Bank of America, leaving a consensus rating of Moderate Buy and a consensus price target of $18.35.

Ping Capital Management Inc. raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,100 shares of the oil and gas exploration company's stock after buying an additional 124,100 shares during the period. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 1.3% of Ping Capital Management Inc.'s portfolio, making the stock its 15th biggest holding. Ping Capital Management Inc.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $4,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 20.9% during the 3rd quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company's stock worth $34,213,000 after buying an additional 467,737 shares during the last quarter. ARGA Investment Management LP increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 70.4% in the third quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company's stock valued at $238,118,000 after acquiring an additional 7,772,595 shares during the last quarter. J. Safra Sarasin Holding AG acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at about $1,342,000. North of South Capital LLP raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 150.9% during the third quarter. North of South Capital LLP now owns 285,373 shares of the oil and gas exploration company's stock worth $3,613,000 after acquiring an additional 171,649 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Petroleo Brasileiro S.A.- Petrobras by 8.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,969,030 shares of the oil and gas exploration company's stock valued at $24,928,000 after purchasing an additional 151,300 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE PBR opened at $21.88 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 0.76. The business's 50 day moving average price is $19.53 and its two-hundred day moving average price is $15.17. The company has a market cap of $141.03 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 0.91 and a beta of 0.38. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $22.09.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 EPS for the quarter. The company had revenue of $23.61 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%. On average, analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.18 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a "buy" rating in a research note on Wednesday, January 14th. The Goldman Sachs Group increased their price objective on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a "buy" rating in a report 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. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $18.70 to $24.80 in a report on Friday, April 17th. Finally, Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.35.

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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