Beck Bode LLC Sells 77,642 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Beck Bode LLC reduced its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,232,786 shares of the oil and gas exploration company’s stock after selling 77,642 shares during the period. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 2.4% of Beck Bode LLC’s portfolio, making the stock its 25th largest holding. Beck Bode LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $14,609,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its stake in Petroleo Brasileiro S.A.- Petrobras by 14.7% in the 3rd quarter. Capital International Investors now owns 20,211,745 shares of the oil and gas exploration company’s stock valued at $255,881,000 after acquiring an additional 2,592,536 shares during the period. ARGA Investment Management LP increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% during the fourth quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock valued at $224,856,000 after buying an additional 166,472 shares during the period. Mondrian Investment Partners LTD bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the third quarter valued at about $140,433,000. Earnest Partners LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 52.0% during the third quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock valued at $61,685,000 after buying an additional 1,665,873 shares during the period. Finally, Perpetual Ltd increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the fourth quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock valued at $39,262,000 after buying an additional 18,100 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.5%

Shares of NYSE PBR opened at $19.93 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $22.24. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $128.40 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.79 and a beta of 0.38. The business has a 50-day moving average of $20.45 and a 200-day moving average of $16.04.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The company had revenue of $23.54 billion during the quarter. Sell-side analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 10.39%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.70 to $24.80 in a research report on Friday, April 17th. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Finally, The Goldman Sachs Group upped their price target 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.35.

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.