929,940 Shares in Petroleo Brasileiro S.A.- Petrobras $PBR Acquired by Franchise GP Ltd

Franchise GP Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 929,940 shares of the oil and gas exploration company’s stock, valued at approximately $17,660,000. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 7.5% of Franchise GP Ltd’s investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 4.2% during the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock valued at $138,640,000 after buying an additional 270,422 shares in the last quarter. Oaktree Capital Management LP bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth $126,355,000. Carrhae Capital LLP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $87,456,000. DJE Kapital AG bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at about $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at about $42,858,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Petroleo Brasileiro S.A.- Petrobras stock opened at $25.27 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $25.95. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average is $20.72 and its 200 day moving average is $19.61. The company has a market cap of $162.82 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 1.00 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently commented on PBR. JPMorgan Chase & Co. boosted their price objective 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. UBS Group increased their target price 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. Wall Street Zen downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Finally, Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.