270,422 Petroleo Brasileiro S.A.- Petrobras $PBR Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,643,028 shares of the oil and gas exploration company’s stock after acquiring an additional 270,422 shares during the period. Petroleo Brasileiro S.A.- Petrobras makes up 1.1% of Artemis Investment Management LLP’s holdings, making the stock its 27th largest position. Artemis Investment Management LLP’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $138,640,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Carrhae Capital LLP bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth approximately $87,456,000. Timothy G. Youngquist 2020 Irrevocable Trust bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $12,175,000. The Manufacturers Life Insurance Company bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth $2,074,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $5,122,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 3.0%

NYSE PBR traded up $0.72 on Thursday, hitting $24.71. 16,596,858 shares of the company were exchanged, compared to its average volume of 22,849,330. The company’s 50 day moving average price is $19.94 and its 200-day moving average price is $19.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The firm has a market capitalization of $159.25 billion, a P/E ratio of 6.23, a price-to-earnings-growth ratio of 0.93 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $24.77.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 10.86%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. Finally, UBS Group boosted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of “Moderate Buy” and an average price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.