Thornburg Investment Management Inc. Sells 303,479 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Thornburg Investment Management Inc. lessened its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 87.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 42,214 shares of the oil and gas exploration company’s stock after selling 303,479 shares during the period. Thornburg Investment Management Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $682,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 11,680 shares during the last quarter. Focus Partners Wealth lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after buying an additional 1,356 shares during the period. Cresset Asset Management LLC lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 55.9% in the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock valued at $201,000 after buying an additional 5,624 shares during the period. NewEdge Advisors LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 797.8% during the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock worth $235,000 after buying an additional 16,699 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 35.0% during the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock worth $674,000 after buying an additional 13,988 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR stock opened at $18.52 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $22.24. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The firm has a market cap of $119.35 billion, a PE ratio of 4.68, a P/E/G ratio of 0.75 and a beta of 0.33. The business’s 50-day moving average price is $17.81 and its two-hundred day moving average price is $18.55.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 10.86%.

Analysts Set New Price Targets

PBR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras has an average 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.