Quantitative Investment Management LLC Invests $5.12 Million in Petroleo Brasileiro S.A.- Petrobras $PBR

Quantitative Investment Management LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the second quarter, HoldingsChannel reports. The firm acquired 316,988 shares of the oil and gas exploration company’s stock, valued at approximately $5,122,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 8.8% during the first quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock worth $147,000 after purchasing an additional 574 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 3.0% during the first quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company’s stock worth $501,000 after purchasing an additional 696 shares in the last quarter. Drum Hill Capital LLC lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the 1st quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company’s stock worth $2,746,000 after buying an additional 714 shares during the last quarter. Truist Financial Corp lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% during the 4th quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock worth $388,000 after buying an additional 829 shares during the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 5.9% in the 2nd quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company’s stock valued at $254,000 after buying an additional 868 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.1%

Petroleo Brasileiro S.A.- Petrobras stock opened at $18.52 on Monday. The stock has a 50 day moving average of $17.81 and a two-hundred day moving average of $18.57. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $119.35 billion, a price-to-earnings ratio of 4.68, a PEG ratio of 0.73 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Stockholders 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 presently 10.86%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Finally, Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras 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.