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Investec Asset Management North America Inc. Acquires Shares of 2,168,938 PETROLEO BRASIL/ADR (NYSE:PBR)

By August 25, 2019 No Comments

Investec Asset Management North America Inc. bought a new stake in shares of PETROLEO BRASIL/ADR (NYSE:PBR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,168,938 shares of the oil and gas exploration company’s stock, valued at approximately $33,770,000. PETROLEO BRASIL/ADR accounts for 3.0% of Investec Asset Management North America Inc.’s portfolio, making the stock its 5th biggest holding.

A number of other hedge funds also recently modified their holdings of the stock. USS Investment Management Ltd raised its position in shares of PETROLEO BRASIL/ADR by 18.4% in the 1st quarter. USS Investment Management Ltd now owns 2,576,104 shares of the oil and gas exploration company’s stock worth $40,999,000 after acquiring an additional 400,000 shares in the last quarter. Raymond James & Associates raised its position in shares of PETROLEO BRASIL/ADR by 250.1% in the 1st quarter. Raymond James & Associates now owns 160,907 shares of the oil and gas exploration company’s stock worth $2,562,000 after acquiring an additional 114,952 shares in the last quarter. Exane Derivatives raised its position in shares of PETROLEO BRASIL/ADR by 87.6% in the 2nd quarter. Exane Derivatives now owns 214,648 shares of the oil and gas exploration company’s stock worth $3,341,000 after acquiring an additional 100,237 shares in the last quarter. Crosspoint Capital Strategies LLC bought a new position in PETROLEO BRASIL/ADR during the 1st quarter valued at approximately $1,473,000. Finally, Segantii Capital Management Ltd bought a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at approximately $1,168,000. Institutional investors own 7.61% of the company’s stock.

NYSE PBR opened at $12.97 on Friday. The company has a market capitalization of $88.70 billion, a PE ratio of 9.07 and a beta of 1.51. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.06 and a current ratio of 1.31. The business’s fifty day moving average is $15.01 and its 200 day moving average is $15.43. PETROLEO BRASIL/ADR has a fifty-two week low of $10.16 and a fifty-two week high of $17.90.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its quarterly earnings results on Monday, August 5th. The oil and gas exploration company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.38. The business had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $22.35 billion. PETROLEO BRASIL/ADR had a return on equity of 12.74% and a net margin of 9.12%. On average, sell-side analysts forecast that PETROLEO BRASIL/ADR will post 1.23 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.077 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.31 dividend on an annualized basis and a yield of 2.37%. PETROLEO BRASIL/ADR’s dividend payout ratio is presently 21.68%.

A number of research analysts recently weighed in on PBR shares. Bank of America assumed coverage on PETROLEO BRASIL/ADR in a research report on Wednesday, July 3rd. They set a “buy” rating and a $21.00 price objective for the company. Zacks Investment Research raised PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 7th. ValuEngine lowered PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Citigroup reissued a “buy” rating and issued a $23.00 target price (up previously from $20.20) on shares of PETROLEO BRASIL/ADR in a report on Monday, July 8th. Finally, Goldman Sachs Group began coverage on PETROLEO BRASIL/ADR in a research note on Thursday, July 11th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.00.

PETROLEO BRASIL/ADR Company Profile

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.

Further Reading: What Factors Can Affect Return on Equity?

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

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