ICICI Prudential Asset Management Co Ltd Invests $35.14 Million in Petroleo Brasileiro S.A.- Petrobras $PBR

ICICI Prudential Asset Management Co Ltd bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,776,000 shares of the oil and gas exploration company’s stock, valued at approximately $35,144,000. Petroleo Brasileiro S.A.- Petrobras makes up about 3.7% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 5th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ARGA Investment Management LP increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 70.4% in the 3rd quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock worth $238,118,000 after acquiring an additional 7,772,595 shares in the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the third quarter worth about $140,433,000. Perpetual Ltd raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 1.0% during the 3rd quarter. Perpetual Ltd now owns 3,295,157 shares of the oil and gas exploration company’s stock worth $41,717,000 after purchasing an additional 33,500 shares during the last quarter. Todd Asset Management LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 4.9% during the 3rd quarter. Todd Asset Management LLC now owns 3,137,096 shares of the oil and gas exploration company’s stock worth $39,716,000 after purchasing an additional 147,650 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 20.9% in the 3rd quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company’s stock valued at $34,213,000 after buying an additional 467,737 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Up 3.0%

Shares of NYSE:PBR opened at $15.76 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $16.02. The stock has a market cap of $101.53 billion, a P/E ratio of 7.29, a PEG ratio of 0.31 and a beta of 0.49. The business has a fifty day moving average of $13.32 and a two-hundred day moving average of $12.72. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.73.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be given a dividend of $0.0658 per share. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 21.76%.

Analysts Set New Price Targets

Several research firms have commented on PBR. UBS Group boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. Finally, The Goldman Sachs Group raised their price objective on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Company 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.