Victory Capital Management Inc. Buys New Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Victory Capital Management Inc. bought a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,459,157 shares of the oil and gas exploration company’s stock, valued at approximately $42,686,000. Victory Capital Management Inc. owned approximately 0.05% of Petróleo Brasileiro S.A. – Petrobras as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 83.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,169 shares in the last quarter. Baldwin Brothers LLC MA acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $35,000. J.Safra Asset Management Corp raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 1,364.7% during the second quarter. J.Safra Asset Management Corp now owns 3,032 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 2,825 shares in the last quarter. Federated Hermes Inc. raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 34.3% during the first quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock worth $50,000 after purchasing an additional 861 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 12.29% of the company’s stock.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR opened at $11.46 on Friday. The firm’s fifty day moving average price is $10.69 and its 200 day moving average price is $12.44. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $8.88 and a 1-year high of $16.32. The company has a current ratio of 1.17, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The oil and gas exploration company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. Petróleo Brasileiro S.A. – Petrobras had a net margin of 28.74% and a return on equity of 39.46%. The firm had revenue of $32.41 billion for the quarter, compared to analyst estimates of $32.54 billion. Sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 5.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Credit Suisse Group cut shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $16.00 in a report on Monday, October 17th. UBS Group cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “sell” rating in a report on Monday, November 21st. StockNews.com raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Tuesday, November 29th. Bradesco Corretora lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 13th. Finally, JPMorgan Chase & Co. lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $14.00 in a research report on Monday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

About Petróleo Brasileiro S.A. – Petrobras

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Petróleo Brasileiro SA – Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. It 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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Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

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