Artemis Investment Management LLP Increases Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Artemis Investment Management LLP increased its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 3,044,971 shares of the oil and gas exploration company’s stock after buying an additional 146,590 shares during the quarter. Artemis Investment Management LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $43,878,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PBR. EverSource Wealth Advisors LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at $32,000. Nisa Investment Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $35,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at approximately $45,000.

Petróleo Brasileiro S.A. – Petrobras Stock Down 2.7 %

PBR stock opened at $14.91 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. The company’s 50 day simple moving average is $14.71 and its 200-day simple moving average is $15.10. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The firm has a market capitalization of $97.24 billion, a PE ratio of 4.33, a P/E/G ratio of 0.23 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $24.22 billion. Equities analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.36 earnings per share for the current fiscal 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 given a dividend of $0.165 per share. This represents a yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 25.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lowered their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $20.00 in a report on Monday, August 26th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group dropped their price objective 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 research analyst has rated the stock with a hold rating and seven have issued 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 a consensus target price of $18.20.

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 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.