Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is RWC Asset Management LLP’s 10th Largest Position

RWC Asset Management LLP lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 19.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,570,596 shares of the oil and gas exploration company’s stock after purchasing an additional 422,920 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras makes up about 2.5% of RWC Asset Management LLP’s holdings, making the stock its 10th biggest position. RWC Asset Management LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $41,052,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth $45,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $85,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $106,000. Channel Wealth LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $153,000. Finally, Payden & Rygel Investment Group acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $153,000.

Analyst Ratings Changes

PBR has been the topic of several analyst reports. Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Monday, March 25th. Bank of America lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, March 8th. Finally, UBS Group raised their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras has a consensus rating of “Moderate Buy” and a consensus target price of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE PBR traded up $0.21 during midday trading on Friday, hitting $17.05. The company had a trading volume of 20,004,626 shares, compared to its average volume of 21,103,116. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96. The firm has a fifty day simple moving average of $15.94 and a two-hundred day simple moving average of $15.90. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $10.01 and a fifty-two week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.15. The company had revenue of $27.11 billion for the quarter, compared to analyst estimates of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. On average, research analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.51 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, April 29th will be given a $0.2084 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.83 annualized dividend and a yield of 4.89%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 12.83%.

Petróleo Brasileiro S.A. – Petrobras Company 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.