Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Position Lowered by RWC Asset Management LLP

RWC Asset Management LLP decreased its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 28.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,662,950 shares of the oil and gas exploration company’s stock after selling 648,095 shares during the period. Petróleo Brasileiro S.A. – Petrobras makes up about 1.7% of RWC Asset Management LLP’s investment portfolio, making the stock its 22nd largest position. RWC Asset Management LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $24,096,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Artisan Partners Limited Partnership acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at about $218,758,000. Artemis Investment Management LLP lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 27.7% during the first quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock valued at $95,452,000 after purchasing an additional 1,362,108 shares during the last quarter. Perpetual Ltd acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the first quarter valued at approximately $56,337,000. Earnest Partners LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 4.8% during the first quarter. Earnest Partners LLC now owns 3,276,414 shares of the oil and gas exploration company’s stock worth $49,834,000 after buying an additional 151,056 shares in the last quarter. Finally, Norden Group LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 3,457.9% in the first quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock worth $44,403,000 after buying an additional 2,837,247 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group cut their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. The Goldman Sachs Group dropped their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their price target for the company from $21.20 to $17.70 in a research report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.63.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR opened at $15.23 on Tuesday. The company has a market capitalization of $99.33 billion, a PE ratio of 4.43, a PEG ratio of 0.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The company’s 50 day moving average price is $14.70 and its 200 day moving average price is $15.35. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The business had revenue of $23.47 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 23rd. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a dividend yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 25.00%.

Petróleo Brasileiro S.A. – Petrobras Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.