Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Holdings Boosted by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD boosted its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 23.0% in the second quarter, Holdings Channel reports. The institutional investor owned 10,099,766 shares of the oil and gas exploration company’s stock after acquiring an additional 1,889,313 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras makes up approximately 2.3% of Mondrian Investment Partners LTD’s holdings, making the stock its 12th largest position. Mondrian Investment Partners LTD’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $144,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 9.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 31,392 shares of the oil and gas exploration company’s stock valued at $501,000 after purchasing an additional 2,650 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 16.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,892 shares of the oil and gas exploration company’s stock valued at $222,000 after acquiring an additional 1,979 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $365,000. Assetmark Inc. increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 7.6% in the fourth quarter. Assetmark Inc. now owns 532,179 shares of the oil and gas exploration company’s stock worth $8,499,000 after purchasing an additional 37,724 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth about $706,000.

Wall Street Analysts Forecast Growth

PBR has been the topic of a number of research analyst reports. UBS Group lowered their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. The Goldman Sachs Group dropped their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. Finally, Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $14.74 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The firm has a fifty day moving average of $14.73 and a 200-day moving average of $15.15. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The firm had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. On average, equities research analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company 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 $0.165 dividend. The ex-dividend date is Friday, August 23rd. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 25.00%.

Petróleo Brasileiro S.A. – Petrobras Company 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.