Ted Buchan & Co Invests $1.94 Million in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Ted Buchan & Co purchased a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 134,532 shares of the oil and gas exploration company’s stock, valued at approximately $1,939,000. Petróleo Brasileiro S.A. – Petrobras accounts for approximately 0.9% of Ted Buchan & Co’s investment portfolio, making the stock its 27th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 4.8% in the third quarter. Assetmark Inc. now owns 939,864 shares of the oil and gas exploration company’s stock valued at $13,543,000 after acquiring an additional 43,433 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 59.8% during the third quarter. Fiera Capital Corp now owns 100,109 shares of the oil and gas exploration company’s stock worth $1,443,000 after purchasing an additional 37,475 shares during the period. Summit Global Investments acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at approximately $1,625,000. KG&L Capital Management LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 32.9% during the third quarter. KG&L Capital Management LLC now owns 43,600 shares of the oil and gas exploration company’s stock worth $628,000 after buying an additional 10,800 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in Petróleo Brasileiro S.A. – Petrobras by 65.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 945 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PBR shares. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group dropped their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Monday, August 26th. Finally, UBS Group lowered their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and an average price target of $18.20.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Petróleo Brasileiro S.A. – Petrobras stock opened at $13.68 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $14.38 and a two-hundred day moving average price of $14.84. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $23.47 billion for 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 research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.43 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be issued a $0.165 dividend. This represents a yield of 15.4%. This is an increase 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 dividend payout ratio is presently 34.68%.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.