Norden Group LLC Has $2.93 Million Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Norden Group LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,228 shares of the oil and gas exploration company’s stock after purchasing an additional 40,178 shares during the quarter. Norden Group LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $2,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PBR. Artisan Partners Limited Partnership bought a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at approximately $218,758,000. Perpetual Ltd bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $56,337,000. Artemis Investment Management LLP boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 27.7% during the 1st quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock worth $95,452,000 after acquiring an additional 1,362,108 shares during the period. Breakout Capital Partners LP bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth approximately $18,728,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after acquiring an additional 1,039,700 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Trading Down 1.7 %

Shares of NYSE PBR traded down $0.26 during trading on Friday, reaching $14.75. The company had a trading volume of 25,934,655 shares, compared to its average volume of 18,571,414. The company’s fifty day moving average price is $14.74 and its 200-day moving average price is $15.31. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The stock has a market cap of $96.20 billion, a P/E ratio of 4.29, a PEG ratio of 0.18 and a beta of 1.40. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The company had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. As a group, research analysts expect 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 firm also recently announced a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be given a dividend of $0.165 per share. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date is Friday, August 23rd. This represents a dividend yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 25.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on PBR shares. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. UBS Group reduced their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.20 to $17.70 in a research note on Wednesday, May 15th. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group reduced their price target on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and an average price target of $17.63.

Petróleo Brasileiro S.A. – Petrobras 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.