Hennessy Advisors Inc. Has $3.91 Million Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Hennessy Advisors Inc. reduced its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,800 shares of the oil and gas exploration company’s stock after selling 11,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $3,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ORG Partners LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% during the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock worth $30,000 after acquiring an additional 1,679 shares in the last quarter. Bogart Wealth LLC boosted its holdings in 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 purchasing an additional 2,000 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Petróleo Brasileiro S.A. – Petrobras by 65.4% in the third quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 945 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Petróleo Brasileiro S.A. – Petrobras by 497.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company’s stock valued at $87,000 after buying an additional 5,000 shares during the last quarter. Finally, Activest Wealth Management lifted its position in Petróleo Brasileiro S.A. – Petrobras by 67.9% during the 3rd quarter. Activest Wealth Management now owns 6,430 shares of the oil and gas exploration company’s stock worth $93,000 after buying an additional 2,600 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE PBR opened at $13.71 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $89.39 billion, a P/E ratio of 5.35, a P/E/G ratio of 0.16 and a beta of 1.41. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.55 and a 12 month high of $17.91. The stock has a 50 day moving average of $13.71 and a 200-day moving average of $14.26.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.5338 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 57.81%.

Wall Street Analysts Forecast Growth

PBR has been the topic of a number of recent research reports. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group increased their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and an average 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.