Larch Capital Partners LLC Buys Shares of 632,032 Petroleo Brasileiro S.A.- Petrobras $PBR

Larch Capital Partners LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 632,032 shares of the oil and gas exploration company’s stock, valued at approximately $7,714,000. Petroleo Brasileiro S.A.- Petrobras accounts for 1.1% of Larch Capital Partners LLC’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds have also bought and sold shares of the business. Moran Wealth Management LLC increased its position in Petroleo Brasileiro S.A.- Petrobras by 18.0% during the 4th quarter. Moran Wealth Management LLC now owns 535,044 shares of the oil and gas exploration company’s stock valued at $6,340,000 after buying an additional 81,567 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,969,030 shares of the oil and gas exploration company’s stock worth $24,928,000 after acquiring an additional 151,300 shares in the last quarter. ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter worth $35,144,000. ORG Partners LLC grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 2,273.3% in the fourth quarter. ORG Partners LLC now owns 52,283 shares of the oil and gas exploration company’s stock worth $619,000 after acquiring an additional 50,080 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the third quarter valued at $10,036,000.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR stock opened at $16.75 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. 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 market cap of $107.92 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 0.67 and a beta of 0.32. The stock’s fifty day moving average price is $19.79 and its 200-day moving average price is $16.80.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The business had revenue of $23.54 billion during the quarter. On average, equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.1426 per share. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 11.04%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PBR. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. decreased their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, June 3rd. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.70 to $24.80 in a research 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 note on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.