285,194 Shares in Petroleo Brasileiro S.A.- Petrobras $PBR Acquired by Matthews International Capital Management LLC

Matthews International Capital Management LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 1st quarter, Holdings Channel reports. The institutional investor bought 285,194 shares of the oil and gas exploration company’s stock, valued at approximately $5,918,000. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 2.4% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 17th biggest position.

Several other large investors have also recently bought and sold shares of the company. Moran Wealth Management LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 18.0% in the fourth quarter. Moran Wealth Management LLC now owns 535,044 shares of the oil and gas exploration company’s stock worth $6,340,000 after buying an additional 81,567 shares in the last quarter. ORG Partners LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 2,273.3% during the fourth quarter. ORG Partners LLC now owns 52,283 shares of the oil and gas exploration company’s stock worth $619,000 after buying an additional 50,080 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the third quarter worth about $10,036,000. Oxbow Advisors LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter worth about $4,955,000. Finally, Provident Living Financial Services Inc. bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter worth about $1,047,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PBR shares. JPMorgan Chase & Co. dropped their price target on 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. Weiss Ratings upgraded 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. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Finally, Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of NYSE PBR opened at $17.32 on Monday. The stock’s 50-day moving average is $18.36 and its 200 day moving average is $17.29. The stock has a market cap of $111.63 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 0.76 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $22.24. 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 issued its quarterly 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 business had revenue of $23.54 billion for the quarter. On average, sell-side analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 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.