China Universal Asset Management Co. Ltd. Purchases New Shares in Petroleo Brasileiro S.A.- Petrobras $PBR

China Universal Asset Management Co. Ltd. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 32,000 shares of the oil and gas exploration company’s stock, valued at approximately $677,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter worth about $31,000. Ascentis Independent Advisors bought a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at $51,000. Harbor Investment Advisory LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at $54,000. NFSG Corp raised its position in Petroleo Brasileiro S.A.- Petrobras by 153.8% in the 3rd quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company’s stock worth $86,000 after purchasing an additional 2,500 shares during the period. Finally, GK Wealth Management LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the third quarter valued at approximately $97,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PBR. JPMorgan Chase & Co. lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Finally, UBS Group upped their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.7%

Shares of PBR stock opened at $22.06 on Friday. The stock’s 50-day simple moving average is $21.98 and its 200-day simple moving average is $19.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The firm has a market capitalization of $142.16 billion, a PE ratio of 5.57, a P/E/G ratio of 1.97 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $26.39.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.