Platinum Investment Management Ltd. Has $40.54 Million Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Platinum Investment Management Ltd. increased its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 103.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,930,925 shares of the oil and gas exploration company’s stock after acquiring an additional 1,487,450 shares during the period. Petróleo Brasileiro S.A. – Petrobras comprises 1.4% of Platinum Investment Management Ltd.’s holdings, making the stock its 22nd largest holding. Platinum Investment Management Ltd.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $40,535,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PBR. SPX Gestao de Recursos Ltda increased its stake in Petróleo Brasileiro S.A. – Petrobras by 109,540.6% in the second quarter. SPX Gestao de Recursos Ltda now owns 6,964,368 shares of the oil and gas exploration company’s stock valued at $96,317,000 after acquiring an additional 6,958,016 shares during the last quarter. RWC Asset Advisors US LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at approximately $36,082,000. Two Sigma Investments LP increased its stake in Petróleo Brasileiro S.A. – Petrobras by 1,412.1% in the first quarter. Two Sigma Investments LP now owns 2,315,038 shares of the oil and gas exploration company’s stock valued at $24,146,000 after acquiring an additional 2,161,938 shares during the last quarter. Contrarius Investment Management Ltd bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter worth $20,587,000. Finally, Artemis Investment Management LLP grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 163.2% during the second quarter. Artemis Investment Management LLP now owns 2,877,914 shares of the oil and gas exploration company’s stock worth $39,751,000 after buying an additional 1,784,476 shares during the last quarter. 11.57% of the stock is owned by institutional investors.

Petróleo Brasileiro S.A. – Petrobras Stock Down 1.2 %

Shares of NYSE PBR traded down $0.20 during trading on Tuesday, hitting $15.90. 5,508,715 shares of the company traded hands, compared to its average volume of 21,091,326. The business’s fifty day moving average is $15.27 and its 200 day moving average is $14.07. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $8.88 and a fifty-two week high of $16.55. The firm has a market capitalization of $103.70 billion, a price-to-earnings ratio of 3.91 and a beta of 1.58. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.64 and a current ratio of 0.95.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.243 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.97 annualized dividend and a dividend yield of 6.11%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous quarterly dividend of $0.09. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 8.98%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.10 to $17.50 in a research note on Thursday, August 24th. Citigroup lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $14.00 in a report on Thursday, August 10th. Bradesco Corretora upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Friday, September 8th. JPMorgan Chase & Co. lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $14.50 in a report on Friday, August 4th. Finally, Jefferies Financial Group assumed coverage on shares of Petróleo Brasileiro S.A. – Petrobras in a report on Thursday, September 21st. They set a “buy” rating and a $21.20 price target on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.34.

Petróleo Brasileiro S.A. – Petrobras Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.