Abbington Investment Group Buys New Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Abbington Investment Group purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 286,473 shares of the oil and gas exploration company’s stock, valued at approximately $3,627,000. Petroleo Brasileiro S.A.- Petrobras comprises 3.1% of Abbington Investment Group’s holdings, making the stock its 10th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $148,086,000. Acadian Asset Management LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 11,321.8% in the second quarter. Acadian Asset Management LLC now owns 1,356,687 shares of the oil and gas exploration company’s stock valued at $16,961,000 after purchasing an additional 1,344,809 shares during the period. Parkwood LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 220.2% during the 2nd quarter. Parkwood LLC now owns 1,485,340 shares of the oil and gas exploration company’s stock worth $18,582,000 after buying an additional 1,021,489 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $4,074,000. Finally, HRT Financial LP lifted its position in Petroleo Brasileiro S.A.- Petrobras by 598.7% during the second quarter. HRT Financial LP now owns 314,827 shares of the oil and gas exploration company’s stock worth $3,938,000 after acquiring an additional 269,768 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PBR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and an average target price of $14.90.

Petroleo Brasileiro S.A.- Petrobras Trading Up 2.4%

PBR opened at $11.82 on Friday. The stock has a market capitalization of $76.14 billion, a price-to-earnings ratio of 5.47, a P/E/G ratio of 0.24 and a beta of 0.51. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $14.98. The company has a 50-day simple moving average of $12.28 and a 200 day simple moving average of $12.36.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its earnings results on Friday, November 7th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. Petroleo Brasileiro S.A.- Petrobras had a net margin of 16.15% and a return on equity of 23.32%. Analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, December 26th will be given a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 21.76%.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.