Step Capital Management Pte. Ltd. Makes New $676,000 Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Step Capital Management Pte. Ltd. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 60,000 shares of the oil and gas exploration company’s stock, valued at approximately $676,000. Petroleo Brasileiro S.A.- Petrobras makes up 0.3% of Step Capital Management Pte. Ltd.’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently made changes to their positions in PBR. Mondrian Investment Partners LTD bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the third quarter valued at $140,433,000. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 70.4% in the 3rd quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock worth $238,118,000 after acquiring an additional 7,772,595 shares during the last quarter. ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at about $35,144,000. Capital International Investors raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 14.7% in the 3rd quarter. Capital International Investors now owns 20,211,745 shares of the oil and gas exploration company’s stock valued at $255,881,000 after acquiring an additional 2,592,536 shares in the last quarter. Finally, Earnest Partners LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 52.0% during the 3rd quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock valued at $61,685,000 after acquiring an additional 1,665,873 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.3%

Shares of PBR opened at $20.50 on Monday. The firm has a market cap of $132.14 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 0.18 and a beta of 0.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.48 and a current ratio of 0.71. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $21.40. The firm has a 50 day moving average price of $17.30 and a 200-day moving average price of $14.08.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 EPS for the quarter. The company had revenue of $23.61 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 22.01% and a return on equity of 24.26%. As a group, equities research analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Stockholders of record on Friday, April 24th will be paid a dividend of $0.1191 per share. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 11.51%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PBR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Jefferies Financial Group cut shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and cut their price target for the stock from $20.30 to $19.00 in a research note on Friday, March 13th. The Goldman Sachs Group increased their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.20.

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.