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Investec Asset Management LTD Invests $113.45 Million in PETROLEO BRASIL/ADR (NYSE:PBR)

By August 18, 2019 No Comments

Investec Asset Management LTD acquired a new stake in shares of PETROLEO BRASIL/ADR (NYSE:PBR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,286,123 shares of the oil and gas exploration company’s stock, valued at approximately $113,445,000. Investec Asset Management LTD owned 0.11% of PETROLEO BRASIL/ADR at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC raised its stake in shares of PETROLEO BRASIL/ADR by 72.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 709 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of PETROLEO BRASIL/ADR by 2.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 41,057 shares of the oil and gas exploration company’s stock worth $639,000 after purchasing an additional 1,117 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of PETROLEO BRASIL/ADR by 14.1% during the 2nd quarter. OLD National Bancorp IN now owns 11,940 shares of the oil and gas exploration company’s stock worth $186,000 after purchasing an additional 1,479 shares during the last quarter. Highland Capital Management LLC boosted its stake in shares of PETROLEO BRASIL/ADR by 2.3% during the 2nd quarter. Highland Capital Management LLC now owns 77,947 shares of the oil and gas exploration company’s stock worth $1,214,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Gould Asset Management LLC CA boosted its stake in shares of PETROLEO BRASIL/ADR by 17.1% during the 1st quarter. Gould Asset Management LLC CA now owns 12,250 shares of the oil and gas exploration company’s stock worth $195,000 after purchasing an additional 1,785 shares during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

Shares of PBR traded down $0.12 during mid-day trading on Friday, reaching $13.23. 14,521,200 shares of the stock traded hands, compared to its average volume of 15,874,434. The firm has a market cap of $87.33 billion, a price-to-earnings ratio of 9.25 and a beta of 1.51. The stock has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $15.53. PETROLEO BRASIL/ADR has a 12-month low of $10.16 and a 12-month high of $17.90. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 1.11.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, August 14th will be paid a $0.077 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 2.33%. PETROLEO BRASIL/ADR’s dividend payout ratio (DPR) is presently 21.68%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 7th. ValuEngine cut shares of PETROLEO BRASIL/ADR from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Bank of America assumed coverage on shares of PETROLEO BRASIL/ADR in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $21.00 target price on the stock. Citigroup reissued a “buy” rating and issued a $23.00 target price (up from $20.20) on shares of PETROLEO BRASIL/ADR in a research report on Monday, July 8th. Finally, Goldman Sachs Group assumed coverage on shares of PETROLEO BRASIL/ADR in a research report on Thursday, July 11th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.00.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

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Institutional Ownership by Quarter for PETROLEO BRASIL/ADR (NYSE:PBR)

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