Mackenzie Financial Corp Sells 229,975 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Mackenzie Financial Corp cut its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,458,996 shares of the oil and gas exploration company’s stock after selling 229,975 shares during the quarter. Mackenzie Financial Corp’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $39,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at about $62,049,000. RWC Asset Advisors US LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 117.2% in the 3rd quarter. RWC Asset Advisors US LLC now owns 5,666,762 shares of the oil and gas exploration company’s stock worth $84,945,000 after buying an additional 3,057,798 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 78.9% in the 3rd quarter. Artemis Investment Management LLP now owns 5,147,860 shares of the oil and gas exploration company’s stock valued at $77,131,000 after purchasing an additional 2,269,946 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 1,412.1% in the 1st quarter. Two Sigma Investments LP now owns 2,315,038 shares of the oil and gas exploration company’s stock valued at $24,146,000 after purchasing an additional 2,161,938 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at $31,479,000.

Analysts Set New Price Targets

Several brokerages have weighed in on PBR. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, March 25th. Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. UBS Group raised their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, Bank of America cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Down 0.9 %

Shares of PBR opened at $15.66 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $10.01 and a 12-month high of $17.91. The company’s 50-day moving average price is $16.05 and its 200 day moving average price is $15.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.15. The firm had revenue of $27.11 billion during the quarter, compared to analysts’ expectations of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. Equities research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.51 EPS for the current fiscal year.

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.