Cohen & Steers Inc. Acquires 68,363 Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Cohen & Steers Inc. grew its position in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 32.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,369 shares of the oil and gas exploration company's stock after buying an additional 68,363 shares during the period. Cohen & Steers Inc.'s holdings in Petróleo Brasileiro S.A. - Petrobras were worth $3,580,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quantinno Capital Management LP raised its stake in Petróleo Brasileiro S.A. - Petrobras by 34.1% in the 3rd quarter. Quantinno Capital Management LP now owns 20,438 shares of the oil and gas exploration company's stock valued at $295,000 after acquiring an additional 5,202 shares during the period. Wellington Management Group LLP increased its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 24.3% in the third quarter. Wellington Management Group LLP now owns 750,938 shares of the oil and gas exploration company's stock worth $10,821,000 after purchasing an additional 146,706 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Petróleo Brasileiro S.A. - Petrobras by 497.5% in the third 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 period. Sanctuary Advisors LLC lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 2.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 107,084 shares of the oil and gas exploration company's stock valued at $1,596,000 after buying an additional 2,147 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. - Petrobras during the 3rd quarter valued at approximately $243,000.

Wall Street Analysts Forecast Growth

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

Petróleo Brasileiro S.A. - Petrobras Price Performance

NYSE:PBR traded up $0.40 during trading hours on Friday, hitting $11.62. 32,520,566 shares of the company's stock traded hands, compared to its average volume of 17,326,625. The firm has a market cap of $74.91 billion, a P/E ratio of 4.54, a P/E/G ratio of 0.18 and a beta of 0.94. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The business's fifty day simple moving average is $13.36 and its two-hundred day simple moving average is $13.70. Petróleo Brasileiro S.A. - Petrobras has a 52 week low of $11.03 and a 52 week high of $17.44.

Petróleo Brasileiro S.A. - Petrobras Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be given a $0.2403 dividend. 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 138.79%.

Petróleo Brasileiro S.A. - Petrobras Company Profile

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.