Petroleo Brasileiro S.A.- Petrobras $PBR Stock: RWC Asset Management LLP Grows Position

RWC Asset Management LLP increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,014,940 shares of the oil and gas exploration company’s stock after purchasing an additional 384,816 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras comprises about 2.3% of RWC Asset Management LLP’s investment portfolio, making the stock its 11th biggest holding. RWC Asset Management LLP’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $62,922,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PBR. Inspire Investing LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.8% in the 1st quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock valued at $147,000 after buying an additional 574 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company’s stock worth $501,000 after acquiring an additional 696 shares during the period. Drum Hill Capital LLC lifted its holdings 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 acquiring an additional 714 shares during the period. Ascent Group LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 5.9% in the second quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company’s stock worth $254,000 after acquiring an additional 868 shares during the last quarter. Finally, McIlrath & Eck LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.7% in the first quarter. McIlrath & Eck LLC now owns 12,267 shares of the oil and gas exploration company’s stock valued at $255,000 after purchasing an additional 980 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Trading Up 2.2%

Shares of Petroleo Brasileiro S.A.- Petrobras stock traded up $0.56 during trading hours on Friday, reaching $26.18. The stock had a trading volume of 25,119,756 shares, compared to its average volume of 23,616,078. The firm has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $19.84. The firm has a market capitalization of $168.70 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 2.29 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $26.39.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 10.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PBR shares. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Wall Street Zen lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. UBS Group lifted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. upped their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.97.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.