Public Employees Retirement System of Ohio Invests $42.86 Million in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Public Employees Retirement System of Ohio acquired 2.65 million Petrobras shares during the second quarter, investing approximately $42.86 million. Several other institutional investors also established new positions.
• Analyst sentiment is mixed but leans positive: five analysts rate Petrobras a Buy, one rates it Hold, and one rates it Sell. The stock has a consensus rating of “Moderate Buy” and an average price target of $19.28.
• Petrobras announced a special dividend of $0.2649 per share, payable December 1 to shareholders of record as of August 25. Shares recently opened at $18.25, with a 52-week range of $11.43 to $22.24.

Public Employees Retirement System of Ohio bought a new stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,652,118 shares of the oil and gas exploration company's stock, valued at approximately $42,858,000.

Other hedge funds have also bought and sold shares of the company. Timothy G. Youngquist 2020 Irrevocable Trust bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $12,175,000. Oxbow Advisors LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at approximately $4,955,000. The Manufacturers Life Insurance Company acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $2,074,000. Finally, Independent Financial Group LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $1,832,000.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PBR. Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE:PBR opened at $18.25 on Friday. The company has a market capitalization of $117.64 billion, a PE ratio of 4.61, a P/E/G ratio of 0.72 and a beta of 0.33. The company has a 50 day simple moving average of $17.78 and a two-hundred day simple moving average of $18.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $22.24.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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