Pictet Asset Management Holding SA Takes Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Pictet Asset Management Holding SA acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 230,202 shares of the oil and gas exploration company’s stock, valued at approximately $4,777,000.

Several other institutional investors also recently modified their holdings of PBR. Capital International Investors raised its position in Petroleo Brasileiro S.A.- Petrobras by 51.6% in 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 buying an additional 10,425,563 shares during the last quarter. ARGA Investment Management LP boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% during the 4th quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock valued at $224,856,000 after acquiring an additional 166,472 shares during the last quarter. Mondrian Investment Partners LTD grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 14.1% in 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. Earnest Partners LLC grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 9.5% in the fourth quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock worth $63,224,000 after acquiring an additional 462,889 shares during the period. Finally, Perpetual Ltd raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the fourth quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock valued at $39,262,000 after purchasing an additional 18,100 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE PBR opened at $16.11 on Friday. The company has a 50-day moving average price of $18.79 and a 200-day moving average price of $17.07. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $22.24. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $103.79 billion, a P/E ratio of 5.23, a PEG ratio of 0.64 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. The company had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. Equities research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Analyst Ratings Changes

PBR has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of 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. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Jefferies Financial Group downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.30 to $19.00 in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has an average rating of “Moderate Buy” and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras 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.