Driehaus Capital Management LLC Purchases Shares of 2,571,162 Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Driehaus Capital Management LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,571,162 shares of the oil and gas exploration company’s stock, valued at approximately $35,559,000.
A number of other institutional investors have also made changes to their positions in the business. Raymond James & Associates lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 58.3% during the first quarter. Raymond James & Associates now owns 142,949 shares of the oil and gas exploration company’s stock worth $2,116,000 after buying an additional 52,626 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Petróleo Brasileiro S.A. – Petrobras by 117.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 48,997 shares of the oil and gas exploration company’s stock valued at $725,000 after purchasing an additional 26,512 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter valued at $801,000. Private Advisor Group LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter valued at $320,000. Finally, Allianz Asset Management GmbH acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter worth $11,529,000. 11.57% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on PBR. Citigroup lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $14.00 in a research note on Thursday, August 10th. UBS Group raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.10 to $17.50 in a research report on Thursday, August 24th. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating in a report on Wednesday, August 23rd. Jefferies Financial Group initiated coverage on shares of Petróleo Brasileiro S.A. – Petrobras in a report on Thursday, September 21st. They set a “buy” rating and a $21.20 price objective for the company. Finally, StockNews.com raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.34.
Check Out Our Latest Stock Report on Petróleo Brasileiro S.A. – Petrobras
Petróleo Brasileiro S.A. – Petrobras Price Performance
PBR stock traded down $0.06 during trading on Friday, hitting $15.21. 9,950,469 shares of the stock traded hands, compared to its average volume of 16,696,290. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. The stock has a market cap of $99.20 billion, a price-to-earnings ratio of 3.69 and a beta of 1.54. Petróleo Brasileiro S.A. – Petrobras has a one year low of $8.88 and a one year high of $16.55. The company has a 50 day simple moving average of $15.30 and a 200 day simple moving average of $14.30.
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Get Free Report) last posted its earnings results on Friday, November 10th. The oil and gas exploration company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.04). The firm had revenue of $25.55 billion during the quarter, compared to the consensus estimate of $27.46 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 25.48% and a return on equity of 35.31%. Equities analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.86 EPS for the current fiscal year.
Petróleo Brasileiro S.A. – Petrobras Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Friday, November 24th will be paid a $0.243 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.97 dividend on an annualized basis and a yield of 6.39%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous quarterly dividend of $0.09. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 35.19%.
About Petróleo Brasileiro S.A. – Petrobras (Free Report)
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.
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