Axiom International Investors LLC DE increased its position in PETROLEO BRASIL/ADR (NYSE:PBR) by 137.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,999,257 shares of the oil and gas exploration company’s stock after buying an additional 2,894,657 shares during the quarter. PETROLEO BRASIL/ADR comprises approximately 1.7% of Axiom International Investors LLC DE’s holdings, making the stock its 16th largest position. Axiom International Investors LLC DE owned approximately 0.08% of PETROLEO BRASIL/ADR worth $60,341,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of PETROLEO BRASIL/ADR in the second quarter worth $986,000. Massachusetts Financial Services Co. MA increased its stake in shares of PETROLEO BRASIL/ADR by 420.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,108,781 shares of the oil and gas exploration company’s stock worth $11,122,000 after purchasing an additional 895,915 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of PETROLEO BRASIL/ADR by 4,501.5% in the second quarter. Parallel Advisors LLC now owns 12,562 shares of the oil and gas exploration company’s stock worth $125,000 after purchasing an additional 12,289 shares in the last quarter. TD Asset Management Inc. purchased a new stake in shares of PETROLEO BRASIL/ADR in the second quarter worth $171,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of PETROLEO BRASIL/ADR by 1,279.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 465,032 shares of the oil and gas exploration company’s stock worth $4,664,000 after purchasing an additional 431,332 shares in the last quarter. Institutional investors and hedge funds own 6.81% of the company’s stock.
A number of analysts have recently issued reports on the stock. Societe Generale increased their price objective on shares of PETROLEO BRASIL/ADR from $11.00 to $13.50 and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Credit Suisse Group set a $15.00 price objective on shares of PETROLEO BRASIL/ADR and gave the stock a “hold” rating in a research note on Thursday, September 6th. ValuEngine raised shares of PETROLEO BRASIL/ADR from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. JPMorgan Chase & Co. raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “overweight” rating and raised their target price for the company from $14.00 to $17.00 in a research note on Monday, October 8th. Finally, Zacks Investment Research raised shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. PETROLEO BRASIL/ADR currently has a consensus rating of “Hold” and an average target price of $16.10.
PBR opened at $14.33 on Friday. The firm has a market cap of $93.53 billion, a P/E ratio of 20.47 and a beta of 1.53. PETROLEO BRASIL/ADR has a fifty-two week low of $9.02 and a fifty-two week high of $17.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.60 and a quick ratio of 1.18.
PETROLEO BRASIL/ADR (NYSE:PBR) last posted its earnings results on Tuesday, November 6th. The oil and gas exploration company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.09). The company had revenue of $24.87 billion for the quarter, compared to analysts’ expectations of $24.51 billion. PETROLEO BRASIL/ADR had a net margin of 5.21% and a return on equity of 10.11%. As a group, research analysts predict that PETROLEO BRASIL/ADR will post 1.52 EPS for the current year.
The business also recently announced an annual dividend, which will be paid on Thursday, December 13th. Investors of record on Monday, November 26th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, November 23rd. This represents a yield of 0.27%. PETROLEO BRASIL/ADR’s payout ratio is 5.71%.
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PETROLEO BRASIL/ADR Profile
PetrÃ³leo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.
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