Evergreen Quality Fund GP Ltd. Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Evergreen Quality Fund GP Ltd. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 472,600 shares of the oil and gas exploration company’s stock, valued at approximately $5,600,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moran Wealth Management LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 18.0% in the 4th quarter. Moran Wealth Management LLC now owns 535,044 shares of the oil and gas exploration company’s stock valued at $6,340,000 after acquiring an additional 81,567 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 8.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,969,030 shares of the oil and gas exploration company’s stock worth $24,928,000 after purchasing an additional 151,300 shares during the last quarter. ICICI Prudential Asset Management Co Ltd acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter worth approximately $35,144,000. ORG Partners LLC grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 2,273.3% in the fourth quarter. ORG Partners LLC now owns 52,283 shares of the oil and gas exploration company’s stock valued at $619,000 after purchasing an additional 50,080 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at approximately $10,036,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 1.4%

PBR stock opened at $16.81 on Thursday. 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 cap of $108.33 billion, a PE ratio of 5.46, a PEG ratio of 0.68 and a beta of 0.32. The firm’s 50 day moving average price is $19.87 and its 200-day moving average price is $16.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74.

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

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 11.04%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PBR. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Jefferies Financial Group cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their target price for the company from $20.30 to $19.00 in a report on Friday, March 13th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lowered their price target 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 report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.28.

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.