Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stake Lowered by Ativo Capital Management LLC

Ativo Capital Management LLC trimmed its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 15.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,115 shares of the oil and gas exploration company’s stock after selling 14,782 shares during the period. Ativo Capital Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 13.1% during the 3rd quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock valued at $227,961,000 after buying an additional 1,835,297 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after acquiring an additional 1,889,313 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth approximately $73,174,000. Victory Capital Management Inc. increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after purchasing an additional 1,039,700 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 0.9% during the 3rd quarter. Perpetual Ltd now owns 3,152,289 shares of the oil and gas exploration company’s stock valued at $45,424,000 after purchasing an additional 29,267 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of NYSE PBR opened at $14.90 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The business’s 50 day moving average is $14.25 and its two-hundred day moving average is $14.61. 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 Increases Dividend

The business also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.227 per share. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. This represents a yield of 16.3%. The ex-dividend date is Friday, December 27th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 30.08%.

Analysts Set New Price Targets

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

Petróleo Brasileiro S.A. – Petrobras 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.