Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Bought by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,099,766 shares of the oil and gas exploration company’s stock after acquiring an additional 1,889,313 shares during the period. Petróleo Brasileiro S.A. – Petrobras comprises about 2.3% of Mondrian Investment Partners LTD’s holdings, making the stock its 12th biggest position. Mondrian Investment Partners LTD’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $144,124,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Artisan Partners Limited Partnership acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth $218,758,000. Artemis Investment Management LLP raised 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 buying an additional 1,362,108 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% in 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 buying an additional 1,039,700 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at about $56,337,000. Finally, Earnest Partners LLC increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 4.8% during the 1st quarter. Earnest Partners LLC now owns 3,276,414 shares of the oil and gas exploration company’s stock worth $49,834,000 after purchasing an additional 151,056 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE PBR opened at $14.74 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The business has a 50 day moving average price of $14.73 and a two-hundred day moving average price of $15.15.

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 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $23.47 billion during the quarter, compared to the consensus estimate of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. On average, equities analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently announced a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. This represents a dividend yield of 15.4%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 25.00%.

Analysts Set New Price Targets

PBR has been the subject of several recent research reports. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.80 to $17.90 in a research report on Thursday, June 27th. UBS Group dropped their price objective on shares of 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. Finally, The Goldman Sachs Group decreased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.07.

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.