Cape Ann Asset Management Ltd Has $4.59 Million Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Cape Ann Asset Management Ltd raised its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 2.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 347,910 shares of the oil and gas exploration company’s stock after buying an additional 7,600 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras accounts for approximately 3.1% of Cape Ann Asset Management Ltd’s holdings, making the stock its 6th biggest holding. Cape Ann Asset Management Ltd’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $4,589,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PBR. Encompass Capital Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $73,174,000. Mondrian Investment Partners LTD grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after purchasing an additional 1,889,313 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% in the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after purchasing an additional 1,039,700 shares in the last quarter. Annex Advisory Services LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 152.7% during the second quarter. Annex Advisory Services LLC now owns 890,417 shares of the oil and gas exploration company’s stock valued at $12,902,000 after purchasing an additional 538,002 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 40.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,412,000 shares of the oil and gas exploration company’s stock valued at $21,477,000 after purchasing an additional 405,940 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. UBS Group cut their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $20.00 in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE PBR opened at $14.90 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91. The business’s fifty day moving average is $14.25 and its two-hundred day moving average is $14.63. The stock has a market capitalization of $97.18 billion, a P/E ratio of 5.82, a P/E/G ratio of 0.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.227 per share. This represents a dividend yield of 16.3%. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date of this dividend is Friday, December 27th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 38.67%.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.