Lumbard & Kellner LLC Grows Stock Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Lumbard & Kellner LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 39.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 707,365 shares of the oil and gas exploration company’s stock after purchasing an additional 199,527 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras comprises approximately 2.9% of Lumbard & Kellner LLC’s portfolio, making the stock its 9th largest holding. Lumbard & Kellner LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $8,382,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $26,000. Geneos Wealth Management Inc. increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second 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 period. Bayforest Capital Ltd bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $39,000. BNP Paribas increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 241.9% in the third quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company’s stock worth $54,000 after purchasing an additional 3,000 shares during the period. Finally, New Millennium Group LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter worth $59,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.4%

PBR opened at $20.40 on Friday. The stock has a market cap of $131.48 billion, a PE ratio of 6.71, a P/E/G ratio of 0.77 and a beta of 0.38. The company has a quick ratio of 0.48, a current ratio of 0.71 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 $22.24. The business’s fifty day simple moving average is $19.82 and its 200 day simple moving average is $15.42.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 EPS for the quarter. The business had revenue of $23.61 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%. As a group, research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.66 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, May 28th. Investors of record on Friday, April 24th will be paid a $0.1191 dividend. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 10.86%.

Wall Street Analysts Forecast Growth

PBR has been the topic of several research analyst reports. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, April 10th. Jefferies Financial Group cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.30 to $19.00 in a research note on Friday, March 13th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Finally, UBS Group increased their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Profile

Petro?leo 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.