Cullen Capital Management LLC Decreases Stock Holdings in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Cullen Capital Management LLC cut its stake in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,669,761 shares of the oil and gas exploration company's stock after selling 831,871 shares during the period. Cullen Capital Management LLC's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $21,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Ethos Financial Group LLC purchased a new stake in Petróleo Brasileiro S.A. - Petrobras during the 4th quarter valued at $25,000. Tandem Financial LLC purchased a new stake in shares of Petróleo Brasileiro S.A. - Petrobras in the fourth quarter valued at $39,000. Whipplewood Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. - Petrobras in the 4th quarter worth about $40,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras during the 4th quarter worth about $51,000. Finally, Sunbelt Securities Inc. grew its holdings in Petróleo Brasileiro S.A. - Petrobras by 497.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company's stock valued at $87,000 after purchasing an additional 5,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PBR. StockNews.com downgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Hsbc Global Res raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, HSBC raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Petróleo Brasileiro S.A. - Petrobras has an average rating of "Moderate Buy" and a consensus price target of $17.81.

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Petróleo Brasileiro S.A. - Petrobras Stock Down 6.9 %

Shares of PBR stock traded down $0.84 during mid-day trading on Thursday, hitting $11.37. The stock had a trading volume of 25,186,649 shares, compared to its average volume of 17,017,332. The firm has a market capitalization of $73.29 billion, a P/E ratio of 4.44, a price-to-earnings-growth ratio of 0.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. Petróleo Brasileiro S.A. - Petrobras has a 12-month low of $11.03 and a 12-month high of $17.44. The firm's 50-day moving average is $13.67 and its two-hundred day moving average is $13.83.

Petróleo Brasileiro S.A. - Petrobras Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, June 27th. Stockholders of record on Tuesday, April 22nd will be given a $0.2403 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a dividend yield of 19%. Petróleo Brasileiro S.A. - Petrobras's payout ratio is presently 138.79%.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.