Petroleo Brasileiro S.A.- Petrobras $PBR Shares Newly Purchased by Ninety One UK Ltd

Ninety One UK Ltd purchased a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the third quarter, HoldingsChannel reports. The fund purchased 535,490 shares of the oil and gas exploration company’s stock, valued at approximately $11,176,000.

Several other institutional investors and hedge funds have also bought and sold shares of PBR. Artemis Investment Management LLP boosted its position in Petroleo Brasileiro S.A.- Petrobras by 4.2% during the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock valued at $138,640,000 after acquiring an additional 270,422 shares in the last quarter. Oaktree Capital Management LP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $126,355,000. Carrhae Capital LLP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $87,456,000. DJE Kapital AG purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $42,858,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PBR. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. UBS Group lifted their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen cut Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Finally, JPMorgan Chase & Co. upped their price target on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and a consensus target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.6%

NYSE:PBR opened at $25.27 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The firm’s 50-day moving average price is $20.72 and its 200-day moving average price is $19.61. The company has a market capitalization of $162.82 billion, a PE ratio of 6.55, a P/E/G ratio of 1.00 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $25.95.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 10.86%.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.