Thornburg Investment Management Inc. Sells 7,367,164 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Thornburg Investment Management Inc. lessened its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 95.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,334 shares of the oil and gas exploration company’s stock after selling 7,367,164 shares during the period. Thornburg Investment Management Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $4,385,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PBR. Financial Gravity Companies Inc. purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. New Millennium Group LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at about $59,000. Activest Wealth Management raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 78.5% in the third quarter. Activest Wealth Management now owns 6,864 shares of the oil and gas exploration company’s stock worth $87,000 after purchasing an additional 3,018 shares in the last quarter. Finally, Westfuller Advisors LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at about $90,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock opened at $16.63 on Friday. The firm’s 50-day moving average is $13.76 and its two-hundred day moving average is $12.85. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $16.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.57. The company has a market capitalization of $107.17 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 0.29 and a beta of 0.49.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, December 26th will be given a dividend of $0.0658 per share. The ex-dividend date of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 18.52%.

Wall Street Analyst Weigh In

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

Petroleo Brasileiro S.A.- Petrobras Company 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.