DNB Asset Management AS Makes New $21.78 Million Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

DNB Asset Management AS bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,837,813 shares of the oil and gas exploration company’s stock, valued at approximately $21,778,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital International Investors raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 14.7% in the 3rd quarter. Capital International Investors now owns 20,211,745 shares of the oil and gas exploration company’s stock worth $255,881,000 after acquiring an additional 2,592,536 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% in the 4th quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock worth $224,856,000 after acquiring an additional 166,472 shares in the last quarter. Mondrian Investment Partners LTD bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth about $140,433,000. Earnest Partners LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 52.0% in the 3rd quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock worth $61,685,000 after acquiring an additional 1,665,873 shares in the last quarter. Finally, Perpetual Ltd grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the 4th quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock worth $39,262,000 after buying an additional 18,100 shares during the period.

Analyst Upgrades and Downgrades

PBR has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR opened at $19.94 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.74. The stock has a 50 day moving average price of $20.22 and a two-hundred day moving average price of $15.75. The firm has a market capitalization of $128.51 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.80 and a beta of 0.38. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $22.24.

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

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be issued a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 10.71%.

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.