Norden Group LLC Grows Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Norden Group LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 75.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,051 shares of the oil and gas exploration company’s stock after buying an additional 35,175 shares during the quarter. Norden Group LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PBR. Qube Research & Technologies Ltd purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the third quarter worth about $62,049,000. RWC Asset Advisors US LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 117.2% during the third quarter. RWC Asset Advisors US LLC now owns 5,666,762 shares of the oil and gas exploration company’s stock valued at $84,945,000 after purchasing an additional 3,057,798 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter worth approximately $31,479,000. Moneda S.A. Administradora General de Fondos increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 72.0% in the fourth quarter. Moneda S.A. Administradora General de Fondos now owns 3,186,609 shares of the oil and gas exploration company’s stock worth $50,890,000 after purchasing an additional 1,334,225 shares in the last quarter. Finally, RWC Asset Management LLP increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 79.9% in the third quarter. RWC Asset Management LLP now owns 2,147,676 shares of the oil and gas exploration company’s stock worth $32,194,000 after purchasing an additional 953,739 shares in the last quarter.

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

NYSE:PBR traded down $0.29 during mid-day trading on Tuesday, hitting $17.04. 14,483,976 shares of the stock traded hands, compared to its average volume of 19,569,146. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $10.01 and a 52 week high of $17.91. The firm’s 50 day moving average is $15.93 and its two-hundred day moving average is $15.92.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data 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. The company had revenue of $27.11 billion for the quarter, compared to the consensus estimate of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. As a group, equities research analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.52 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th will be given a $0.3406 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a yield of 16.25%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 21.20%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PBR shares. UBS Group upped their target price on shares of 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. Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, March 8th. Finally, HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.76.

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.