Artemis Investment Management LLP Boosts Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Artemis Investment Management LLP lifted its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,278,919 shares of the oil and gas exploration company’s stock after buying an additional 1,362,108 shares during the period. Petróleo Brasileiro S.A. – Petrobras makes up approximately 1.2% of Artemis Investment Management LLP’s holdings, making the stock its 18th largest holding. Artemis Investment Management LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $95,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Foundations Investment Advisors LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at approximately $206,000. Parallel Advisors LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 14.8% in the fourth quarter. Parallel Advisors LLC now owns 19,980 shares of the oil and gas exploration company’s stock worth $319,000 after acquiring an additional 2,571 shares during the period. Kestra Advisory Services LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 29.4% in the third quarter. Kestra Advisory Services LLC now owns 26,485 shares of the oil and gas exploration company’s stock worth $397,000 after acquiring an additional 6,012 shares during the period. Dfpg Investments LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 60.1% in the fourth quarter. Dfpg Investments LLC now owns 37,734 shares of the oil and gas exploration company’s stock valued at $626,000 after acquiring an additional 14,164 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at $1,375,000.

Analyst Upgrades and Downgrades

PBR has been the subject of several research analyst reports. Jefferies Financial Group cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and dropped their target price for the stock from $21.20 to $17.70 in a research report on Wednesday, May 15th. UBS Group lifted their price objective on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research report on Monday, March 25th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.80 to $17.90 in a research report on Thursday. Morgan Stanley cut Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $20.00 to $18.00 in a research note on Monday, March 11th. Finally, HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.56.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of NYSE:PBR remained flat at $14.49 on Friday. The stock had a trading volume of 16,110,255 shares, compared to its average volume of 19,386,791. The company has a market capitalization of $94.51 billion, a P/E ratio of 4.21, a PEG ratio of 0.15 and a beta of 1.41. The business has a 50 day moving average price of $15.51 and a 200 day moving average price of $15.87. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $13.02 and a 1 year high of $17.91. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings data on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). The firm had revenue of $23.77 billion for the quarter, compared to the consensus estimate of $24.63 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 22.46% and a return on equity of 31.07%. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.47 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, June 13th will be issued a $0.0288 dividend. This represents a dividend yield of 16%. The ex-dividend date of this dividend is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 26.16%.

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 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.