Fisher Asset Management LLC Sells 312,127 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Fisher Asset Management LLC lowered its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,982,981 shares of the oil and gas exploration company’s stock after selling 312,127 shares during the period. Fisher Asset Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $165,698,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Clearstead Advisors LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 1,706 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 14.1% during the fourth quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after buying an additional 1,562,473 shares in the last quarter. MQS Management LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth $199,000. New Millennium Group LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 185.2% during the fourth quarter. New Millennium Group LLC now owns 13,246 shares of the oil and gas exploration company’s stock worth $157,000 after buying an additional 8,602 shares in the last quarter. Finally, ABN Amro Investment Solutions boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 312.7% during the fourth quarter. ABN Amro Investment Solutions now owns 42,100 shares of the oil and gas exploration company’s stock worth $499,000 after buying an additional 31,900 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PBR. Jefferies Financial Group downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their price target for the stock from $20.30 to $19.00 in a research note on Friday, March 13th. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. Finally, The Goldman Sachs Group lifted 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 research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.1%

Shares of NYSE:PBR opened at $19.93 on Tuesday. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $22.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. The company’s fifty day moving average is $20.47 and its 200-day moving average is $16.13. The company has a market capitalization of $128.40 billion, a PE ratio of 6.47, a P/E/G ratio of 0.79 and a beta of 0.38.

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

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be paid a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 10.71%.

Petroleo Brasileiro S.A.- Petrobras 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.