KG&L Capital Management LLC Has $628,000 Stock Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

KG&L Capital Management LLC increased its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 32.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,600 shares of the oil and gas exploration company’s stock after purchasing an additional 10,800 shares during the quarter. KG&L Capital Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBR. Encompass Capital Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $73,174,000. Mondrian Investment Partners LTD increased its position in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after purchasing an additional 1,889,313 shares during the period. Victory Capital Management Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 38.4% in the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after purchasing an additional 1,039,700 shares during the period. Annex Advisory Services LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 152.7% in the second quarter. Annex Advisory Services LLC now owns 890,417 shares of the oil and gas exploration company’s stock worth $12,902,000 after purchasing an additional 538,002 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in Petróleo Brasileiro S.A. – Petrobras by 40.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,412,000 shares of the oil and gas exploration company’s stock worth $21,477,000 after purchasing an additional 405,940 shares during the period.

Analysts Set New Price Targets

PBR has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group reduced their target price on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Finally, Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and an average target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Trading Down 2.5 %

NYSE:PBR opened at $13.11 on Monday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. The stock has a market capitalization of $85.50 billion, a PE ratio of 5.29, a price-to-earnings-growth ratio of 0.20 and a beta of 1.39. The business’s 50-day simple moving average is $14.58 and its 200-day simple moving average is $14.92.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The business had revenue of $23.47 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Sell-side analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.48 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.165 per share. This represents a dividend yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 34.68%.

About Petróleo Brasileiro S.A. – Petrobras

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.