Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Purchased by RWC Asset Advisors US LLC

RWC Asset Advisors US LLC raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 20.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,811,783 shares of the oil and gas exploration company’s stock after purchasing an additional 1,145,021 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras accounts for 8.6% of RWC Asset Advisors US LLC’s portfolio, making the stock its 5th largest position. RWC Asset Advisors US LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $108,784,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth approximately $45,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $85,000. Whittier Trust Co. of Nevada Inc. bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $106,000. Payden & Rygel Investment Group bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $153,000. Finally, Channel Wealth LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $153,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on PBR. Morgan Stanley downgraded Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $18.00 in a report on Monday, March 11th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, March 25th. Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Friday, March 8th. Finally, UBS Group raised their price target on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a report on Monday, March 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and a consensus price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Up 1.2 %

PBR traded up $0.21 during trading hours on Friday, hitting $17.05. The company’s stock had a trading volume of 20,004,626 shares, compared to its average volume of 21,103,116. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $10.01 and a fifty-two week high of $17.91. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $15.94 and a 200 day simple moving average of $15.90.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.12 by $0.15. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. The firm had revenue of $27.11 billion for the quarter, compared to analysts’ expectations of $26.45 billion. As a group, equities research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.51 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, April 29th will be given a dividend of $0.2084 per share. This represents a $0.83 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, April 26th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 12.83%.

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.