Raiffeisen Bank International AG Invests $831,000 in Ultrapar Participacoes S.A. (NYSE:UGP)

Key Points

• Raiffeisen Bank International AG has acquired a new stake of 267,314 shares in Ultrapar Participacoes S.A., valued at approximately $831,000, marking a significant investment in the oil and gas company.
• Several institutional investors have increased their holdings in Ultrapar, with CWM LLC and GAMMA Investing LLC notably boosting their positions by 55.6% and 92.9%, respectively.
• Analysts have differing views on Ultrapar's stock, with Scotiabank upgrading it to "strong buy" while others have rated it as "hold" and "buy," establishing a consensus target price of $3.20.

Raiffeisen Bank International AG acquired a new position in shares of Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 267,314 shares of the oil and gas company's stock, valued at approximately $831,000.

Other large investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its position in Ultrapar Participacoes by 61.3% during the first quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company's stock worth $161,000 after acquiring an additional 19,918 shares during the period. GAMMA Investing LLC raised its position in Ultrapar Participacoes by 92.9% during the first quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company's stock worth $54,000 after acquiring an additional 8,388 shares during the period. Jane Street Group LLC raised its position in Ultrapar Participacoes by 200.9% during the fourth quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company's stock worth $386,000 after acquiring an additional 97,879 shares during the period. Bank of America Corp DE raised its position in Ultrapar Participacoes by 33.5% during the fourth quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company's stock worth $2,594,000 after acquiring an additional 247,755 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Ultrapar Participacoes by 763.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock worth $3,616,000 after acquiring an additional 1,215,605 shares during the period. 3.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on UGP. Wall Street Zen cut shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Scotiabank upgraded shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Ultrapar Participacoes has an average rating of "Buy" and an average price target of $3.20.

Ultrapar Participacoes Price Performance

Shares of Ultrapar Participacoes stock traded down $0.17 during trading hours on Friday, reaching $3.05. 1,982,122 shares of the company's stock were exchanged, compared to its average volume of 2,044,663. Ultrapar Participacoes S.A. has a 1 year low of $2.53 and a 1 year high of $4.51. The company has a market capitalization of $3.40 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.05. The business has a fifty day moving average of $3.09 and a two-hundred day moving average of $3.00. The company has a quick ratio of 1.26, a current ratio of 1.76 and a debt-to-equity ratio of 0.76.

About Ultrapar Participacoes

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.