Mackenzie Financial Corp Lowers Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Mackenzie Financial Corp trimmed its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,458,996 shares of the oil and gas exploration company’s stock after selling 229,975 shares during the quarter. Mackenzie Financial Corp’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $39,270,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the third quarter worth $62,049,000. RWC Asset Advisors US LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 117.2% during the third quarter. RWC Asset Advisors US LLC now owns 5,666,762 shares of the oil and gas exploration company’s stock worth $84,945,000 after purchasing an additional 3,057,798 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 78.9% during the third quarter. Artemis Investment Management LLP now owns 5,147,860 shares of the oil and gas exploration company’s stock worth $77,131,000 after purchasing an additional 2,269,946 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 1,412.1% during the first quarter. Two Sigma Investments LP now owns 2,315,038 shares of the oil and gas exploration company’s stock worth $24,146,000 after purchasing an additional 2,161,938 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the third quarter worth $31,479,000.

Analysts Set New Price Targets

Several analysts recently issued reports on PBR shares. UBS Group upped their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a report on Monday, March 25th. Morgan Stanley cut shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a report on Monday, March 11th. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, March 25th. Finally, Bank of America cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.9 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $15.66 on Wednesday. The company has a 50-day simple moving average of $16.05 and a 200-day simple moving average of $15.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96. Petróleo Brasileiro S.A. – Petrobras has a one year low of $10.01 and a one year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.12 by $0.15. The business had revenue of $27.11 billion during the quarter, compared to analyst estimates of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. On average, sell-side analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 3.51 EPS for the current year.

About Petróleo Brasileiro S.A. – Petrobras

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.