RWC Asset Management LLP Has $5.86 Million Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

RWC Asset Management LLP lessened its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494,705 shares of the oil and gas exploration company’s stock after selling 429,622 shares during the period. RWC Asset Management LLP’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $5,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PBR. GHP Investment Advisors Inc. acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth $26,000. Clearstead Advisors LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after acquiring an additional 1,044 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth $39,000. Finally, BNP Paribas lifted its position in Petroleo Brasileiro S.A.- Petrobras by 241.9% during the 3rd quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company’s stock worth $54,000 after acquiring an additional 3,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Finally, Jefferies Financial Group lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and cut their price objective for the company from $20.30 to $19.00 in a research report on Friday, March 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock opened at $17.76 on Monday. The firm’s 50 day moving average is $20.33 and its 200-day moving average is $16.49. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24. The firm has a market capitalization of $114.43 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 0.71 and a beta of 0.32. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

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

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 11.04%.

About Petroleo Brasileiro S.A.- Petrobras

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.