ABC Arbitrage SA Increases Stock Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

ABC Arbitrage SA boosted its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 310.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,610 shares of the oil and gas exploration company’s stock after buying an additional 148,686 shares during the quarter. ABC Arbitrage SA’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,489,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PBR. ARGA Investment Management LP grew its stake in shares of 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 in the last quarter. Perpetual Ltd boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 1.0% during the third quarter. Perpetual Ltd now owns 3,295,157 shares of the oil and gas exploration company’s stock worth $41,717,000 after purchasing an additional 33,500 shares during the last quarter. New York State Common Retirement Fund grew its position in Petroleo Brasileiro S.A.- Petrobras by 20.9% in the 3rd quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company’s stock worth $34,213,000 after purchasing an additional 467,737 shares in the last quarter. Cullen Capital Management LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 5.2% in the 2nd quarter. Cullen Capital Management LLC now owns 2,636,074 shares of the oil and gas exploration company’s stock worth $32,977,000 after purchasing an additional 129,823 shares in the last quarter. Finally, Annex Advisory Services LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 7.4% in the 3rd quarter. Annex Advisory Services LLC now owns 1,994,268 shares of the oil and gas exploration company’s stock valued at $25,247,000 after buying an additional 137,370 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE:PBR opened at $15.34 on Wednesday. The firm has a market capitalization of $98.86 billion, a PE ratio of 7.10, a P/E/G ratio of 0.31 and a beta of 0.49. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $12.91 and a two-hundred day moving average price of $12.59. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.94.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business 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 dividend of $0.0658 per share. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 21.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PBR shares. UBS Group boosted their target price on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Finally, Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.97.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.