SeaBridge Investment Advisors LLC cut its stake in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,576 shares of the oil and gas exploration company's stock after selling 32,853 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $779,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PBR. Rakuten Securities Inc. raised its holdings in Petróleo Brasileiro S.A. - Petrobras by 58.2% during the 3rd quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company's stock valued at $1,623,000 after buying an additional 41,447 shares during the period. Teachers Retirement System of The State of Kentucky boosted 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 purchasing an additional 265,560 shares in the last quarter. Creative Planning raised its stake in Petróleo Brasileiro S.A. - Petrobras by 31.6% in the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company's stock valued at $2,234,000 after buying an additional 37,181 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the third quarter worth about $141,372,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the second quarter worth about $1,521,000.
Petróleo Brasileiro S.A. - Petrobras Price Performance
Shares of PBR traded down $0.23 on Wednesday, reaching $13.91. The stock had a trading volume of 8,174,175 shares, compared to its average volume of 11,633,974. The firm has a 50-day moving average of $13.64 and a 200 day moving average of $14.15. The firm has a market capitalization of $89.97 billion, a PE ratio of 5.43, a PEG ratio of 0.18 and a beta of 1.40. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. - Petrobras has a twelve month low of $12.55 and a twelve month high of $17.91.
Petróleo Brasileiro S.A. - Petrobras Cuts Dividend
The business also recently announced a -- dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a dividend of $0.5338 per share. This represents a yield of 18.8%. The ex-dividend date was Friday, December 13th. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is presently 58.20%.
Analyst Upgrades and Downgrades
PBR has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on Petróleo Brasileiro S.A. - Petrobras from $15.40 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Hsbc Global Res downgraded Petróleo Brasileiro S.A. - Petrobras from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Finally, HSBC cut Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.24.
View Our Latest Report on PBR
Petróleo Brasileiro S.A. - Petrobras Profile
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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.
Further Reading
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