Mackenzie Financial Corp Grows Stock Position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Mackenzie Financial Corp lifted its stake in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,436,098 shares of the oil and gas exploration company's stock after buying an additional 39,682 shares during the period. Mackenzie Financial Corp's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $20,809,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Encompass Capital Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the second quarter worth about $73,174,000. Toronto Dominion Bank lifted its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 453.6% during 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 purchasing an additional 32,774 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras during the second quarter valued at approximately $170,000. 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 valued at $567,000 after purchasing an additional 35,732 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 176,522 shares of the oil and gas exploration company's stock valued at $2,558,000 after purchasing an additional 23,546 shares during the last quarter.

Petróleo Brasileiro S.A. - Petrobras Price Performance

Shares of PBR stock opened at $14.58 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. The company has a market capitalization of $95.09 billion, a P/E ratio of 4.24, a P/E/G ratio of 0.21 and a beta of 1.40. The company's 50-day simple moving average is $14.65 and its two-hundred day simple moving average is $15.09. Petróleo Brasileiro S.A. - Petrobras has a one year low of $12.90 and a one year high of $17.91.

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. - Petrobras had a net margin of 16.17% and a return on equity of 28.42%. As a group, equities analysts anticipate that Petróleo Brasileiro S.A. - Petrobras will post 2.65 EPS for the current year.

Petróleo Brasileiro S.A. - Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be issued a $0.165 dividend. This is a positive change from Petróleo Brasileiro S.A. - Petrobras's previous Variable dividend of $0.03. This represents a yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. - Petrobras's payout ratio is currently 25.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Bank of America raised shares of Petróleo Brasileiro S.A. - Petrobras from a "neutral" rating to a "buy" rating and increased their price objective for the company from $16.80 to $17.90 in a report on Thursday, June 27th. The Goldman Sachs Group decreased their target price on shares of Petróleo Brasileiro S.A. - Petrobras from $19.30 to $16.70 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. UBS Group decreased their target price on shares of Petróleo Brasileiro S.A. - Petrobras from $19.40 to $18.10 and set a "buy" rating on the stock in a research report on Monday, August 19th. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. - Petrobras from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $18.00 to $20.00 in a research report on Monday, August 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.20.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

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