Ping Capital Management Inc. Grows Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Ping Capital Management Inc. increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 179.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,000 shares of the oil and gas exploration company’s stock after buying an additional 151,000 shares during the period. Petroleo Brasileiro S.A.- Petrobras comprises 0.7% of Ping Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Ping Capital Management Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,940,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. GQG Partners LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 8.0% during the 1st quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company’s stock worth $3,672,458,000 after buying an additional 18,862,848 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $148,086,000. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.3% during the 1st quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company’s stock worth $158,258,000 after buying an additional 38,312 shares during the period. Carrhae Capital LLP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $64,765,000. Finally, Artemis Investment Management LLP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 30.2% during the 1st quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company’s stock worth $56,052,000 after buying an additional 905,800 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Trading Down 1.5%

NYSE PBR opened at $12.44 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $15.34. The stock has a market capitalization of $80.15 billion, a PE ratio of 5.81 and a beta of 0.86. The firm has a 50 day moving average of $12.54 and a two-hundred day moving average of $12.41.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. The company had revenue of $21.04 billion during the quarter, compared to analyst estimates of $20.78 billion. As a group, research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, August 25th will be issued a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 48.13%.

Analyst Upgrades and Downgrades

PBR has been the topic of several recent research reports. Bank of America downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “neutral” rating in a research note on Monday, June 9th. Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. Finally, UBS Group lowered their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Moderate Buy” and a consensus price target of $15.43.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.