Fearnley Asset Management AS Purchases New Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Fearnley Asset Management AS purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,484,400 shares of the oil and gas exploration company’s stock, valued at approximately $17,590,000. Petroleo Brasileiro S.A.- Petrobras accounts for 8.1% of Fearnley Asset Management AS’s holdings, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Petroleo Brasileiro S.A.- Petrobras by 55.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 11,680 shares during the period. Focus Partners Wealth lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after acquiring an additional 1,356 shares during the period. Cresset Asset Management LLC lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.9% in the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock valued at $201,000 after acquiring an additional 5,624 shares during the period. NewEdge Advisors LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% during the 2nd quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock worth $235,000 after purchasing an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% during the 2nd quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock worth $674,000 after purchasing an additional 13,988 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and reduced their price target for the company from $20.30 to $19.00 in a research report on Friday, March 13th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.70 to $24.80 in a report on Friday, April 17th. Finally, Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $16.75 on Friday. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The stock has a market capitalization of $107.92 billion, a P/E ratio of 5.44, a PEG ratio of 0.61 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. The business’s fifty day moving average price is $19.73 and its 200 day moving average price is $16.80.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. The company 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%. As a group, research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 5.2 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently announced a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be given a $0.1426 dividend. The ex-dividend date 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.