Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Position Cut by RWC Asset Management LLP

Key Points

• RWC Asset Management LLP has decreased its stock holdings in Petroleo Brasileiro S.A.- Petrobras by 14.4%, selling 307,920 shares, with its remaining holdings valued at approximately $26 million.
• A number of hedge funds have adjusted their positions in Petrobras, with Lazard Asset Management increasing its stake by 16.4% during the fourth quarter, now owning over 21 million shares.
• Several equity analysts have issued mixed ratings on Petrobras, with a consensus rating of "Buy" and a price target of $17.40, despite a downgrade from Bank of America.

RWC Asset Management LLP lessened its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,834,992 shares of the oil and gas exploration company's stock after selling 307,920 shares during the period. Petroleo Brasileiro S.A.- Petrobras makes up 1.4% of RWC Asset Management LLP's portfolio, making the stock its 21st biggest position. RWC Asset Management LLP's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $26,314,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $32,000. Redwood Park Advisors LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% during the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock worth $53,000 after purchasing an additional 1,810 shares in the last quarter. Kapitalo Investimentos Ltda lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 104.4% during the fourth quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 156,663 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth about $93,000.

Analysts Set New Price Targets

A number of research analysts have commented on PBR shares. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. Finally, Jefferies Financial Group upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective on the stock in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $17.40.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.5%

NYSE PBR traded down $0.06 on Monday, hitting $12.54. 48,900,263 shares of the stock traded hands, compared to its average volume of 17,211,076. The company has a market capitalization of $80.81 billion, a P/E ratio of 9.36 and a beta of 0.85. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.73. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $12.31 and a 200 day moving average of $12.80.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.2806 per share. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. This represents a yield of 17.6%. The ex-dividend date is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is presently 73.88%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA - Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.