Platinum Investment Management Ltd. reduced its position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,175,491 shares of the oil and gas exploration company's stock after selling 120,394 shares during the quarter. Petróleo Brasileiro S.A. - Petrobras comprises approximately 1.6% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 16th biggest holding. Platinum Investment Management Ltd.'s holdings in Petróleo Brasileiro S.A. - Petrobras were worth $27,977,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 15,887,984 shares of the oil and gas exploration company's stock worth $204,319,000 after buying an additional 68,337 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Petróleo Brasileiro S.A. - Petrobras in the 3rd quarter worth approximately $141,372,000. Perpetual Ltd raised its position in Petróleo Brasileiro S.A. - Petrobras by 5.2% during the 4th quarter. Perpetual Ltd now owns 3,315,957 shares of the oil and gas exploration company's stock worth $42,643,000 after buying an additional 163,668 shares during the last quarter. RWC Asset Management LLP lifted its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 9.8% in the 4th quarter. RWC Asset Management LLP now owns 2,142,912 shares of the oil and gas exploration company's stock valued at $27,558,000 after buying an additional 190,435 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Petróleo Brasileiro S.A. - Petrobras by 18.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company's stock valued at $24,445,000 after buying an additional 265,560 shares during the period.
Analyst Upgrades and Downgrades
PBR has been the subject of several research analyst reports. HSBC upgraded shares of 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. 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 cut shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Two investment 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, the company has a consensus rating of "Moderate Buy" and an average target price of $17.81.
Read Our Latest Report on Petróleo Brasileiro S.A. - Petrobras
Petróleo Brasileiro S.A. - Petrobras Stock Performance
PBR stock traded up $0.17 on Friday, hitting $14.20. The company's stock had a trading volume of 38,987,959 shares, compared to its average volume of 16,591,054. Petróleo Brasileiro S.A. - Petrobras has a 1 year low of $12.45 and a 1 year high of $17.44. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock has a market cap of $91.48 billion, a price-to-earnings ratio of 5.54, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. The firm has a 50 day moving average of $13.79 and a two-hundred day moving average of $13.95.
Petróleo Brasileiro S.A. - Petrobras Cuts Dividend
The business also recently announced a -- dividend, which will be paid on Friday, June 27th. Shareholders of record on Tuesday, April 22nd will be paid a $0.2403 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a dividend yield of 19%. 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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