Capital Research & Management Co.. recently announced the acquisition of new stake in Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR). The institutional investor has increased its shareholding in the Energy company by 3.32% to 63.55 million shares with purchase of 2.04 million shares. This fresh investment now brings its stake to 1.71% valued currently at $550.95 million. In addition, Capital Research & Management Co.. raised its holdings by 31.57 million to 51.79 million shares. And Fisher Asset Management LLC has lifted its position by 7.85% or 2.97 million shares – to 40.87 million shares.
With over 16.5 million Petroleo Brasileiro S.A. – Petrobras (PBR) shares trading Monday and a closing price of $8.17 on the day, the dollar volume was approximately $134.8 million. The shares have shown a negative weekly performance of -3.31% and its price on 08/31/20 lost nearly -3.88%. Currently, there are 6.52B common shares owned by the public and among those 4.19B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for PBR have a consensus price objective of $13.27. The analysts have set the share’s price value over the next 12 months at a high of $17.50 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Petroleo Brasileiro S.A. – Petrobras stock is 2.20 for the next 12 months. The average price target is 40.54% above its last price level and an upside to the estimated low will see the stock gain 18.3% over that period. But an upside of 53.31% will see the stock hit the forecast high price target while mean target price for the stock is $14.00.
The top 3 mutual fund holders in Petroleo Brasileiro S.A. – Petrobras are American Funds EuroPacific Growth, American Funds New World Fund, and DFA Dimensional Emerging Markets. American Funds EuroPacific Growth owns 62.19 million shares of the company’s stock, all valued at over $539.15 million. The company bought an additional 16.58 million shares recently to bring their total holdings to about 1.67% of the shares outstanding. American Funds New World Fund bought 18.36 million shares to see its total holdings expand to 51.46 million shares valued at over $446.19 million and representing 1.38% of the shares outstanding. DFA Dimensional Emerging Markets sold -1.02 million shares to bring its total holdings to over 10.67 million shares at a value of $92.47 million. DFA Dimensional Emerging Markets now owns shares totaling to 0.29% of the shares outstanding.
Shares of Petroleo Brasileiro S.A. – Petrobras (NYSE: PBR) opened at $8.36, down -$0.14 from a prior closing price of $8.50. However, the script later closed the day at $8.17, down -3.88%. The company’s stock has a 5-day price change of -3.31% and -2.51% over the past three months. PBR shares are trading -48.75% year to date (YTD), with the 12-month market performance down to -39.33% lower. It has a 12-month low price of $4.01 and touched a high of $16.74 over the same period. Currently, 16.5 million shares have been traded, compared to an average intraday trading volume of 21.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.42%, -5.53%, and -21.07% respectively.
Institutional ownership of Petroleo Brasileiro S.A. – Petrobras (NYSE: PBR) shares accounts for 18.00% of the company’s 6.52B shares outstanding. Mutual fund holders own 7.40%, while other institutional holders and individual stakeholders account for 9.73% and — respectively.
It has a market capitalization of $50.51B and a beta (3y monthly) value of 1.88. The earnings-per-share (ttm) stands at -$1.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.37% over the week and 3.00% over the month.
Analysts forecast that Petroleo Brasileiro S.A. – Petrobras (PBR) will achieve an EPS of -$0.05 for the current quarter, $0.01 for the next quarter and $0.61 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 32.90%, and 176.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Petroleo Brasileiro S.A. – Petrobras (PBR) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 1 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the PBR, a number of firms have released research notes about the stock. Raymond James stated their Underperform rating for the stock in a research note on May 18, 2020, with the firm’s price target at. BofA/Merrill coverage for the Petroleo Brasileiro S.A. – Petrobras (PBR) stock in a research note released on May 14, 2020 offered a Neutral rating with a price target of. Goldman was of a view on July 11, 2019 that the stock is Buy, while Citigroup gave the stock Buy rating on July 08, 2019, issuing a price target of. Credit Suisse on their part issued Outperform rating on April 08, 2019.