Banco Santander S.A. Acquires 3,441 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Banco Santander S.A. lifted its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,073 shares of the oil and gas exploration company’s stock after purchasing an additional 3,441 shares during the period. Banco Santander S.A.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Encompass Capital Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at $73,174,000. Mondrian Investment Partners LTD raised 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 buying an additional 1,889,313 shares during the period. Victory Capital Management Inc. lifted its holdings in 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 valued at $54,278,000 after purchasing an additional 1,039,700 shares during the last quarter. Annex Advisory Services LLC boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 152.7% during the 2nd quarter. Annex Advisory Services LLC now owns 890,417 shares of the oil and gas exploration company’s stock worth $12,902,000 after buying an additional 538,002 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 40.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,412,000 shares of the oil and gas exploration company’s stock worth $21,477,000 after purchasing an additional 405,940 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE PBR opened at $14.90 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.90 and a twelve month high of $17.91. The stock’s 50-day simple moving average is $14.25 and its two-hundred day simple moving average is $14.64.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PBR shares. UBS Group dropped their target price on shares of 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. Morgan Stanley upgraded 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 research report on Monday, August 26th. 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. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their price target for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. Finally, 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has an average 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.