Artemis Investment Management LLP Raises Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Artemis Investment Management LLP boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,044,971 shares of the oil and gas exploration company’s stock after buying an additional 146,590 shares during the period. Artemis Investment Management LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $43,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PBR. EverSource Wealth Advisors LLC grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 460.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 1,468 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $32,000. Nisa Investment Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $35,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $45,000.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Petróleo Brasileiro S.A. – Petrobras stock opened at $14.91 on Wednesday. The company has a 50-day moving average price of $14.71 and a 200 day moving average price of $15.10. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. The stock has a market cap of $97.24 billion, a P/E ratio of 4.33, a PEG ratio of 0.23 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The company had revenue of $23.47 billion during the quarter, compared to analyst estimates of $24.22 billion. Sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 2.36 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. The ex-dividend date is Friday, August 23rd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a dividend yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 25.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reduced their target price on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research note on Tuesday, August 13th. UBS Group lowered their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. Finally, Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $18.00 to $20.00 in a research note on Monday, August 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.