HighTower Advisors LLC lowered its stake in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 404,235 shares of the oil and gas exploration company's stock after selling 72,144 shares during the quarter. HighTower Advisors LLC's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $5,198,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PBR. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 68.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 22,612 shares of the oil and gas exploration company's stock valued at $326,000 after acquiring an additional 9,200 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Petróleo Brasileiro S.A. - Petrobras by 12.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,549 shares of the oil and gas exploration company's stock worth $181,000 after purchasing an additional 1,407 shares in the last quarter. West Family Investments Inc. increased its position in Petróleo Brasileiro S.A. - Petrobras by 8.9% during the 3rd quarter. West Family Investments Inc. now owns 21,933 shares of the oil and gas exploration company's stock worth $316,000 after purchasing an additional 1,790 shares in the last quarter. Altman Advisors Inc. increased its position in Petróleo Brasileiro S.A. - Petrobras by 1.4% during the 3rd quarter. Altman Advisors Inc. now owns 119,238 shares of the oil and gas exploration company's stock worth $1,718,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in Petróleo Brasileiro S.A. - Petrobras during the 3rd quarter worth approximately $994,000.
Wall Street Analyst Weigh In
PBR has been the subject of a number of research analyst reports. HSBC raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a research report on Wednesday, March 5th. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. - Petrobras presently has a consensus rating of "Moderate Buy" and an average target price of $17.81.
Read Our Latest Analysis on Petróleo Brasileiro S.A. - Petrobras
Petróleo Brasileiro S.A. - Petrobras Stock Up 1.2 %
NYSE:PBR traded up $0.17 during trading hours on Friday, hitting $14.20. The stock had a trading volume of 38,987,959 shares, compared to its average volume of 16,591,054. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. - Petrobras has a 1-year low of $12.45 and a 1-year high of $17.44. The business has a 50 day simple moving average of $13.79 and a two-hundred day simple moving average of $13.95. The company has a market cap of $91.48 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39.
Petróleo Brasileiro S.A. - Petrobras Cuts Dividend
The firm also recently announced a -- dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.2403 per share. This represents a dividend yield of 19%. The ex-dividend date of this dividend is Tuesday, April 22nd. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is currently 137.93%.
About Petróleo Brasileiro S.A. - Petrobras
(
Free Report)
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.
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