Deutsche Bank AG trimmed its stake in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,091,192 shares of the oil and gas exploration company's stock after selling 230,047 shares during the period. Deutsche Bank AG's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $14,033,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Retireful LLC bought a new stake in shares of Petróleo Brasileiro S.A. - Petrobras during the fourth quarter worth $167,000. Annex Advisory Services LLC raised its holdings in Petróleo Brasileiro S.A. - Petrobras by 56.1% during the 4th quarter. Annex Advisory Services LLC now owns 1,508,806 shares of the oil and gas exploration company's stock worth $19,403,000 after purchasing an additional 542,118 shares during the last quarter. Perpetual Ltd lifted its position in Petróleo Brasileiro S.A. - Petrobras by 5.2% during the 4th quarter. Perpetual Ltd now owns 3,315,957 shares of the oil and gas exploration company's stock valued at $42,643,000 after purchasing an additional 163,668 shares during the period. Viking Fund Management LLC bought a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the 4th quarter valued at about $257,000. Finally, SG Americas Securities LLC grew its position in shares of Petróleo Brasileiro S.A. - Petrobras by 114.4% during the 4th quarter. SG Americas Securities LLC now owns 579,270 shares of the oil and gas exploration company's stock worth $7,449,000 after buying an additional 309,112 shares during the period.
Petróleo Brasileiro S.A. - Petrobras Stock Up 0.3%
Shares of NYSE:PBR traded up $0.04 during midday trading on Wednesday, reaching $12.06. The company had a trading volume of 3,454,573 shares, compared to its average volume of 19,872,797. The stock has a market cap of $77.69 billion, a PE ratio of 4.71, a P/E/G ratio of 0.18 and a beta of 0.87. 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 has a 1-year low of $11.03 and a 1-year high of $15.73. The business's 50 day moving average price is $12.42 and its 200 day moving average price is $13.27.
Petróleo Brasileiro S.A. - Petrobras Increases Dividend
The business also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, June 4th will be issued a $0.2806 dividend. This is an increase from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. This represents a dividend yield of 17.6%. The ex-dividend date is Wednesday, June 4th. Petróleo Brasileiro S.A. - Petrobras's payout ratio is currently 82.09%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. StockNews.com raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. HSBC raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective for the company in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Petróleo Brasileiro S.A. - Petrobras currently has a consensus rating of "Buy" and an average price target of $17.47.
Read Our Latest Research Report on PBR
Petróleo Brasileiro S.A. - Petrobras Profile
(
Free Report)
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.
Further Reading
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