Mondrian Investment Partners LTD Purchases New Stake in Petroleo Brasileiro S.A.- Petrobras $PBR

Mondrian Investment Partners LTD acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,092,621 shares of the oil and gas exploration company’s stock, valued at approximately $140,433,000. Petroleo Brasileiro S.A.- Petrobras comprises approximately 2.3% of Mondrian Investment Partners LTD’s holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 purchasing an additional 11,680 shares during the last quarter. Focus Partners Wealth grew its holdings 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 valued at $296,000 after purchasing an additional 1,356 shares during the period. Stratos Wealth Advisors LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the second quarter worth $130,000. Whittier Trust Co. raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 11.5% in the second quarter. Whittier Trust Co. now owns 91,382 shares of the oil and gas exploration company’s stock valued at $1,143,000 after buying an additional 9,436 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 39,667 shares of the oil and gas exploration company’s stock valued at $496,000 after buying an additional 1,145 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PBR. The Goldman Sachs Group lifted their price objective on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. UBS Group increased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.4%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $15.19 on Tuesday. The company’s 50-day moving average price is $13.13 and its 200-day moving average price is $12.66. The company has a current ratio of 0.82, a quick ratio of 0.57 and a debt-to-equity ratio of 0.73. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $16.02. The company has a market cap of $97.86 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 0.30 and a beta of 0.49.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, December 26th will be paid a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 21.76%.

Petroleo Brasileiro S.A.- Petrobras Profile

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.