Artemis Investment Management LLP Has $38.62 Million Stock Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Artemis Investment Management LLP reduced its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 3,002,971 shares of the oil and gas exploration company’s stock after selling 42,000 shares during the period. Artemis Investment Management LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $38,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Choreo LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $198,000. Thrivent Financial for Lutherans increased its position in Petróleo Brasileiro S.A. – Petrobras by 15.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 176,522 shares of the oil and gas exploration company’s stock worth $2,558,000 after buying an additional 23,546 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 1,052.5% during the second quarter. Frank Rimerman Advisors LLC now owns 39,127 shares of the oil and gas exploration company’s stock worth $567,000 after buying an additional 35,732 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $170,000. Finally, Toronto Dominion Bank grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 453.6% in the second quarter. Toronto Dominion Bank now owns 40,000 shares of the oil and gas exploration company’s stock valued at $580,000 after acquiring an additional 32,774 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of PBR opened at $13.71 on Friday. The firm has a 50 day simple moving average of $13.71 and a two-hundred day simple moving average of $14.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.55 and a one year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a dividend of $0.5338 per share. The ex-dividend date was Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 58.20%.

Analyst Upgrades and Downgrades

PBR has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Company Profile

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.