Teachers Retirement System of The State of Kentucky Increases Position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Teachers Retirement System of The State of Kentucky lifted its position in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,696,360 shares of the oil and gas exploration company's stock after acquiring an additional 265,560 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $24,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 497.5% during the third quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company's stock worth $87,000 after acquiring an additional 5,000 shares during the period. Brophy Wealth Management LLC acquired a new position in shares of Petróleo Brasileiro S.A. - Petrobras during the third quarter worth about $167,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 6.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 64,302 shares of the oil and gas exploration company's stock worth $927,000 after acquiring an additional 3,621 shares during the period. Wellington Management Group LLP increased its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 24.3% during 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 acquiring an additional 146,706 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in Petróleo Brasileiro S.A. - Petrobras by 34.1% during the third quarter. Quantinno Capital Management LP now owns 20,438 shares of the oil and gas exploration company's stock worth $295,000 after buying an additional 5,202 shares in the last quarter.

Petróleo Brasileiro S.A. - Petrobras Price Performance

Shares of NYSE PBR traded up $0.27 on Wednesday, hitting $14.60. The company's stock had a trading volume of 19,942,633 shares, compared to its average volume of 17,561,949. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The company has a market capitalization of $95.22 billion, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 0.22 and a beta of 1.41. The stock has a 50 day moving average of $14.16 and a 200-day moving average of $14.49. Petróleo Brasileiro S.A. - Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91.

Petróleo Brasileiro S.A. - Petrobras Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.5338 per share. This represents a dividend yield of 18.8%. The ex-dividend date of this dividend is Friday, December 13th. Petróleo Brasileiro S.A. - Petrobras's payout ratio is 56.25%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. - Petrobras from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. HSBC downgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a report on Monday, October 21st. UBS Group decreased their price objective on shares of Petróleo Brasileiro S.A. - Petrobras from $19.40 to $18.10 and set a "buy" rating on the stock in a report on Monday, August 19th. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Finally, Morgan Stanley raised shares of Petróleo Brasileiro S.A. - Petrobras from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $18.00 to $20.00 in a report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.24.

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.