Cullen Capital Management LLC Has $26.92 Million Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Cullen Capital Management LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 44.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,271,269 shares of the oil and gas exploration company’s stock after acquiring an additional 694,992 shares during the quarter. Cullen Capital Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $26,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Banco Santander S.A. lifted its position in Petroleo Brasileiro S.A.- Petrobras by 196.6% during the fourth quarter. Banco Santander S.A. now owns 434,136 shares of the oil and gas exploration company’s stock worth $5,145,000 after purchasing an additional 287,749 shares during the period. Cohen & Steers Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 52.0% in the 4th quarter. Cohen & Steers Inc. now owns 289,410 shares of the oil and gas exploration company’s stock valued at $3,430,000 after buying an additional 98,975 shares during the period. Cape Ann Asset Management Ltd increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 26.3% in the 4th quarter. Cape Ann Asset Management Ltd now owns 574,311 shares of the oil and gas exploration company’s stock valued at $6,472,000 after buying an additional 119,700 shares during the period. Advocate Investing Services LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at about $147,000. Finally, DRW Securities LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 207.5% in the 4th quarter. DRW Securities LLC now owns 203,796 shares of the oil and gas exploration company’s stock valued at $2,415,000 after buying an additional 137,520 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have commented on PBR shares. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. JPMorgan Chase & Co. decreased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, June 3rd. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $18.37 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The firm has a market cap of $118.35 billion, a P/E ratio of 5.96, a P/E/G ratio of 0.73 and a beta of 0.32. The company’s 50-day moving average price is $20.08 and its two-hundred day moving average price is $16.65.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. The company had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. On average, analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 11.04%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.