Petroleo Brasileiro S.A.- Petrobras $PBR Shares Sold by CI Investments Inc.

CI Investments Inc. cut its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,653,635 shares of the oil and gas exploration company’s stock after selling 89,727 shares during the period. CI Investments Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $20,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake in Petroleo Brasileiro S.A.- Petrobras by 20.9% during 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 purchasing an additional 467,737 shares in the last quarter. ARGA Investment Management LP grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 70.4% during the third quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock valued at $238,118,000 after buying an additional 7,772,595 shares during the last quarter. J. Safra Sarasin Holding AG acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at $1,342,000. North of South Capital LLP raised its stake in Petroleo Brasileiro S.A.- Petrobras by 150.9% in the 3rd quarter. North of South Capital LLP now owns 285,373 shares of the oil and gas exploration company’s stock worth $3,613,000 after acquiring an additional 171,649 shares during the last quarter. Finally, Annex Advisory Services LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 7.4% in the 3rd quarter. Annex Advisory Services LLC now owns 1,994,268 shares of the oil and gas exploration company’s stock worth $25,247,000 after acquiring an additional 137,370 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on PBR. Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. UBS Group upped their target price on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group increased their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.0%

Petroleo Brasileiro S.A.- Petrobras stock opened at $16.97 on Wednesday. The business’s 50-day moving average price is $14.08 and its 200 day moving average price is $12.96. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The firm has a market cap of $109.36 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 0.30 and a beta of 0.51. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $17.34.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, December 26th will be issued a dividend of $0.0658 per share. The ex-dividend date of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 18.52%.

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.