Lazard Asset Management LLC Has $279.78 Million Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Lazard Asset Management LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 16.4% in the fourth quarter, HoldingsChannel reports. The fund owned 21,755,839 shares of the oil and gas exploration company’s stock after buying an additional 3,072,312 shares during the period. Lazard Asset Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $279,779,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Ethos Financial Group LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth $25,000. Tandem Financial LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $39,000. Whipplewood Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at about $40,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at approximately $51,000. Finally, Kapitalo Investimentos Ltda grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 104.4% during the fourth quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 156,663 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Trading Up 1.3%

Shares of NYSE:PBR opened at $11.80 on Monday. The company has a market capitalization of $76.04 billion, a P/E ratio of 4.61, a P/E/G ratio of 0.18 and a beta of 0.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The business’s 50 day simple moving average is $12.52 and its 200 day simple moving average is $13.34. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $11.03 and a 1 year high of $17.37.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be issued a $0.2403 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a yield of 19%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 90.52%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. StockNews.com cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras has an average rating of “Moderate Buy” and a consensus target price of $17.81.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.