Mondrian Investment Partners LTD Takes Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Mondrian Investment Partners LTD acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,092,621 shares of the oil and gas exploration company’s stock, valued at approximately $140,433,000. Petroleo Brasileiro S.A.- Petrobras makes up about 2.3% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 15th biggest position. Mondrian Investment Partners LTD owned about 0.17% of Petroleo Brasileiro S.A.- Petrobras at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ARGA Investment Management LP grew its stake in Petroleo Brasileiro S.A.- Petrobras by 70.4% in the third quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock valued at $238,118,000 after acquiring an additional 7,772,595 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 11,321.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,356,687 shares of the oil and gas exploration company’s stock worth $16,961,000 after purchasing an additional 1,344,809 shares in the last quarter. Parkwood LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 220.2% in the 2nd quarter. Parkwood LLC now owns 1,485,340 shares of the oil and gas exploration company’s stock worth $18,582,000 after purchasing an additional 1,021,489 shares in the last quarter. New York State Common Retirement Fund grew its position in Petroleo Brasileiro S.A.- Petrobras by 20.9% in the 3rd quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company’s stock valued at $34,213,000 after purchasing an additional 467,737 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at $4,074,000.

Analyst Ratings Changes

A number of research firms have weighed in on PBR. The Goldman Sachs Group raised their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, UBS Group increased their price objective on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.4%

NYSE:PBR opened at $15.19 on Tuesday. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $16.02. The firm has a 50-day moving average price of $13.13 and a two-hundred day moving average price of $12.66. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82. The firm has a market cap of $97.86 billion, a price-to-earnings ratio of 7.03, a price-to-earnings-growth ratio of 0.30 and a beta of 0.49.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, December 26th will be paid a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 21.76%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo 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.