OVERSEA CHINESE BANKING Corp Ltd Acquires New Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the third quarter, Holdings Channel reports. The firm bought 11,325 shares of the oil and gas exploration company’s stock, valued at approximately $163,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 1,468 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $30,000. ORG Partners LLC grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% in the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,679 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $32,000. Finally, Bogart Wealth LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 571.4% during the third quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 2,000 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Up 1.2 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $13.98 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.67 and a current ratio of 0.94. The company’s 50-day moving average is $14.30 and its 200-day moving average is $14.76.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be given a $0.227 dividend. This represents a dividend yield of 16.3%. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date of this dividend is Friday, December 27th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 33.59%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. UBS Group lowered 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. The Goldman Sachs Group increased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Hsbc Global Res lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.