Rakuten Securities Inc. Invests $598,000 in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Rakuten Securities Inc. purchased a new position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 37,465 shares of the oil and gas exploration company’s stock, valued at approximately $598,000.

A number of other large investors also recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $62,049,000. RWC Asset Advisors US LLC grew its stake 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 purchasing an additional 3,057,798 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 78.9% in the third quarter. Artemis Investment Management LLP now owns 5,147,860 shares of the oil and gas exploration company’s stock worth $77,131,000 after acquiring an additional 2,269,946 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 1,412.1% in the first quarter. Two Sigma Investments LP now owns 2,315,038 shares of the oil and gas exploration company’s stock worth $24,146,000 after acquiring an additional 2,161,938 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter worth approximately $31,479,000.

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

Petróleo Brasileiro S.A. – Petrobras stock traded down $0.14 during trading hours on Wednesday, reaching $15.65. 16,355,779 shares of the company’s stock traded hands, compared to its average volume of 20,550,480. 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 has a fifty-two week low of $10.01 and a fifty-two week high of $17.91. The firm’s 50 day moving average is $16.05 and its 200-day moving average is $15.79.

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

Analysts Set New Price Targets

A number of research firms have issued reports on PBR. 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 for the company. in a research note on Friday, March 8th. UBS Group lifted their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research note on Monday, March 25th. Morgan Stanley cut shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $18.00 in a research note on Monday, March 11th. Finally, HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.76.

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.