Public Employees Retirement System of Ohio Takes $42.86 Million Position in Petroleo Brasileiro S.A.- Petrobras $PBR

by · The Markets Daily

Public Employees Retirement System of Ohio bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 2,652,118 shares of the oil and gas exploration company’s stock, valued at approximately $42,858,000.

Several other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after buying an additional 11,680 shares during the period. Focus Partners Wealth boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock worth $296,000 after acquiring an additional 1,356 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock worth $201,000 after acquiring an additional 5,624 shares in the last quarter. NewEdge Advisors LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 797.8% in the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock valued at $235,000 after purchasing an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% during the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock valued at $674,000 after purchasing an additional 13,988 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Trading Up 2.8%

NYSE:PBR opened at $18.25 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24. The company has a market cap of $117.64 billion, a PE ratio of 4.61, a PEG ratio of 0.72 and a beta of 0.33. The firm has a 50-day moving average of $17.78 and a 200-day moving average of $18.55.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Shareholders 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 payout ratio is currently 10.86%.

Analyst Upgrades and Downgrades

PBR has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. cut their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and a consensus price target of $19.28.

View Our Latest Research Report on PBR

Petroleo Brasileiro S.A.- Petrobras Company Profile

(Free Report)

Petróleo 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.

Further Reading

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