Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP trimmed its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 10,997,798 shares of the oil and gas exploration company’s stock after selling 213,239 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras makes up approximately 4.6% of ARGA Investment Management LP’s portfolio, making the stock its 9th biggest holding. ARGA Investment Management LP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $141,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC raised 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. Bogart Wealth LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 571.4% in the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 2,000 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Petróleo Brasileiro S.A. – Petrobras by 65.4% during the third quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 945 shares during the period. Sunbelt Securities Inc. increased its stake in 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 purchasing an additional 5,000 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 67.9% during the third quarter. Activest Wealth Management now owns 6,430 shares of the oil and gas exploration company’s stock worth $93,000 after purchasing an additional 2,600 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PBR shares. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras has a consensus rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.6 %

NYSE PBR opened at $14.14 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.55 and a 52 week high of $17.91. The firm has a 50 day moving average of $13.65 and a two-hundred day moving average of $14.16. The stock has a market capitalization of $91.45 billion, a PE ratio of 5.52, a price-to-earnings-growth 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 Cuts Dividend

The firm also recently announced a — dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.5338 dividend. This represents a yield of 18.8%. The ex-dividend date of this dividend was Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 58.20%.

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.