Banco Santander S.A. Purchases 20,462 Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Key Points

• Banco Santander S.A. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 15.2%, acquiring an additional 20,462 shares, bringing their total holdings to 155,244 shares worth $2,226,000.
• Petroleo Brasileiro S.A.- Petrobras has declared a new dividend of $0.2806 per share, which is an increase from the previous $0.24 dividend, representing a yield of 1,760.0%.
• Analyst ratings for Petrobras show a trend with one upgrade to a "buy" rating and a price target of $15.30, while overall analysts maintain an average rating of "Buy" with a target price of $17.40.

Banco Santander S.A. lifted its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 15.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 155,244 shares of the oil and gas exploration company's stock after buying an additional 20,462 shares during the quarter. Banco Santander S.A.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,226,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PBR. TrueMark Investments LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $2,678,000. Salem Investment Counselors Inc. increased its stake in Petroleo Brasileiro S.A.- Petrobras by 22.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 520,911 shares of the oil and gas exploration company's stock valued at $7,470,000 after buying an additional 94,165 shares during the period. Cohen & Steers Inc. increased its stake in Petroleo Brasileiro S.A.- Petrobras by 32.6% during the 4th quarter. Cohen & Steers Inc. now owns 278,369 shares of the oil and gas exploration company's stock valued at $3,580,000 after buying an additional 68,363 shares during the period. New York State Common Retirement Fund acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $29,984,000. Finally, Artemis Investment Management LLP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 30.2% during the 1st quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company's stock valued at $56,052,000 after buying an additional 905,800 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Trading Up 1.2%

Shares of PBR traded up $0.15 during midday trading on Tuesday, hitting $12.91. The stock had a trading volume of 16,734,132 shares, compared to its average volume of 19,758,540. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.73. The business has a 50-day simple moving average of $12.41 and a two-hundred day simple moving average of $12.77. The firm has a market cap of $83.20 billion, a P/E ratio of 9.63 and a beta of 0.85. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The business also recently declared a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.2806 per share. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. This represents a dividend yield of 1,760.0%. The ex-dividend date is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is 73.88%.

Analyst Ratings Changes

PBR has been the topic of several research analyst reports. Bank of America cut shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price on the stock in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of "Buy" and an average target price of $17.40.

Petroleo 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.