Carrhae Capital LLP Takes Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Carrhae Capital LLP purchased a new position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the 2nd quarter, HoldingsChannel reports. The fund purchased 5,411,909 shares of the oil and gas exploration company’s stock, valued at approximately $87,456,000. Petroleo Brasileiro S.A.- Petrobras accounts for about 2.3% of Carrhae Capital LLP’s holdings, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after acquiring an additional 10,425,563 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at $126,355,000. DJE Kapital AG bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $65,428,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $42,858,000. Finally, DNB Asset Management AS bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth approximately $21,778,000.

Analyst Ratings Changes

A number of equities research analysts have commented on PBR shares. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.48.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock traded up $0.72 on Tuesday, hitting $20.84. 28,803,525 shares of the stock traded hands, compared to its average volume of 22,695,818. 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 50 day simple moving average of $18.34 and a two-hundred day simple moving average of $18.82. The firm has a market cap of $134.33 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.79 and a beta of 0.32. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $22.24.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

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.