ADAMCAPITAL Gestao de Recursos Ltda. cut its position in PETROLEO BRASIL/ADR (NYSE:PBR) by 39.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,012 shares of the oil and gas exploration company’s stock after selling 17,313 shares during the quarter. PETROLEO BRASIL/ADR accounts for about 0.0% of ADAMCAPITAL Gestao de Recursos Ltda.’s portfolio, making the stock its 9th largest holding. ADAMCAPITAL Gestao de Recursos Ltda.’s holdings in PETROLEO BRASIL/ADR were worth $421,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PBR. Investec Asset Management LTD acquired a new position in shares of PETROLEO BRASIL/ADR in the second quarter valued at approximately $113,445,000. USS Investment Management Ltd increased its position in 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 valued at $40,999,000 after acquiring an additional 400,000 shares during the period. Investec Asset Management North America Inc. acquired a new stake in PETROLEO BRASIL/ADR in the second quarter valued at $33,770,000. Thomas White International Ltd. increased its holdings in PETROLEO BRASIL/ADR by 7.6% in the first quarter. Thomas White International Ltd. now owns 289,143 shares of the oil and gas exploration company’s stock valued at $4,603,000 after purchasing an additional 20,406 shares during the period. Finally, Exane Derivatives increased its holdings in PETROLEO BRASIL/ADR by 87.6% in the second quarter. Exane Derivatives now owns 214,648 shares of the oil and gas exploration company’s stock valued at $3,341,000 after purchasing an additional 100,237 shares during the period. Institutional investors and hedge funds own 7.66% of the company’s stock.
Shares of PBR stock traded up $0.58 during trading hours on Wednesday, reaching $13.98. 18,704,300 shares of the company traded hands, compared to its average volume of 16,681,932. The firm has a 50-day moving average price of $14.30 and a 200 day moving average price of $15.26. PETROLEO BRASIL/ADR has a 12-month low of $10.19 and a 12-month high of $17.90. The company has a market cap of $88.38 billion, a P/E ratio of 9.78 and a beta of 1.46. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.06.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, August 14th will be paid a $0.077 dividend. This represents a $0.31 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, August 13th. PETROLEO BRASIL/ADR’s dividend payout ratio is currently 21.68%.
PBR has been the subject of several recent research reports. ValuEngine cut PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Goldman Sachs Group started coverage on shares of PETROLEO BRASIL/ADR in a research report on Thursday, July 11th. They set a “buy” rating for the company. Zacks Investment Research upgraded PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America assumed coverage on shares of 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. Finally, Citigroup restated a “buy” rating and issued a $23.00 price target (up from $20.20) on shares of PETROLEO BRASIL/ADR in a report on Monday, July 8th. Two research 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. The stock 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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