CI Investments Inc. Sells 175,822 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

CI Investments Inc. lowered its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 30.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 406,687 shares of the oil and gas exploration company’s stock after selling 175,822 shares during the quarter. CI Investments Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $8,439,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after buying an additional 10,425,563 shares during the period. ARGA Investment Management LP lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% during 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 during the period. Mondrian Investment Partners LTD lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 14.1% during the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after acquiring an additional 1,562,473 shares during the period. Earnest Partners LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 9.5% during the 4th quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock worth $63,224,000 after acquiring an additional 462,889 shares in the last quarter. Finally, Perpetual Ltd boosted 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 acquiring an additional 18,100 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $19.02 on Friday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24. The firm has a market capitalization of $122.54 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 0.83 and a beta of 0.33. The business has a 50-day simple moving average of $17.91 and a 200 day simple moving average of $17.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49.

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%. On average, research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.28 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 paid a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 11.04%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the company from $18.70 to $24.80 in a report on Friday, April 17th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. 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 research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.28.

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.