Cullen Capital Management LLC Buys 129,823 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Cullen Capital Management LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,636,074 shares of the oil and gas exploration company’s stock after acquiring an additional 129,823 shares during the period. Cullen Capital Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $32,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 150.6% in the first quarter. Vestmark Advisory Solutions Inc. now owns 40,514 shares of the oil and gas exploration company’s stock valued at $581,000 after purchasing an additional 24,350 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in Petroleo Brasileiro S.A.- Petrobras by 14.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 23,812 shares of the oil and gas exploration company’s stock valued at $341,000 after buying an additional 3,074 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $3,083,000. Venture Visionary Partners LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.4% in the 1st quarter. Venture Visionary Partners LLC now owns 201,932 shares of the oil and gas exploration company’s stock valued at $2,896,000 after buying an additional 15,583 shares during the period. Finally, Candriam S.C.A. bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $474,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Petroleo Brasileiro S.A.- Petrobras stock opened at $12.18 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.57 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $78.49 billion, a P/E ratio of 5.64, a PEG ratio of 0.17 and a beta of 0.53. The business has a 50-day moving average of $12.30 and a 200-day moving average of $12.41. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $14.98.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its quarterly earnings data on Friday, November 7th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. Petroleo Brasileiro S.A.- Petrobras had a net margin of 16.15% and a return on equity of 23.32%. On average, equities analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be given a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 47.69%.

Analysts Set New Price Targets

Several research firms recently issued reports on PBR. Weiss Ratings reiterated a “hold (c)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Tuesday, December 9th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Finally, UBS Group cut their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.90.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.