Oaktree Capital Management LP Makes New Investment in Petroleo Brasileiro S.A.- Petrobras $PBR

Oaktree Capital Management LP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,089,413 shares of the oil and gas exploration company’s stock, valued at approximately $126,355,000. Petroleo Brasileiro S.A.- Petrobras makes up 1.6% of Oaktree Capital Management LP’s investment portfolio, making the stock its 11th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors increased its stake in Petroleo Brasileiro S.A.- Petrobras by 51.6% during the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after purchasing an additional 10,425,563 shares in the last quarter. DJE Kapital AG acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $65,428,000. DNB Asset Management AS bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth $21,778,000. Mondrian Investment Partners LTD raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 14.1% during the fourth quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after acquiring an additional 1,562,473 shares during the period. Finally, Fearnley Asset Management AS bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at $17,590,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 3.0%

Shares of NYSE:PBR opened at $18.61 on Thursday. The company’s 50-day moving average price is $17.76 and its two-hundred day moving average price is $17.88. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. The stock has a market capitalization of $119.96 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The company had revenue of $23.54 billion during the quarter. On average, equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 11.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.70 to $24.80 in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.