Wellington Management Group LLP Sells 61,474 Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Wellington Management Group LLP decreased its holdings in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 689,464 shares of the oil and gas exploration company's stock after selling 61,474 shares during the quarter. Wellington Management Group LLP's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $8,867,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. GQG Partners LLC raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 2.6% during the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company's stock valued at $3,050,855,000 after purchasing an additional 6,016,560 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 16.4% during the fourth quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company's stock valued at $279,779,000 after purchasing an additional 3,072,312 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 15,887,984 shares of the oil and gas exploration company's stock valued at $204,319,000 after purchasing an additional 68,337 shares during the period. RWC Asset Management LLP raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 9.8% during the fourth quarter. RWC Asset Management LLP now owns 2,142,912 shares of the oil and gas exploration company's stock valued at $27,558,000 after purchasing an additional 190,435 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 7.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,817,730 shares of the oil and gas exploration company's stock valued at $23,376,000 after purchasing an additional 121,370 shares during the period.

Analyst Ratings Changes

PBR has been the subject of several analyst reports. Wall Street Zen upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. HSBC upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research note on Wednesday, March 5th. Jefferies Financial Group upgraded shares of 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 research note on Thursday, May 15th. Finally, Hsbc Global Res upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.47.

Petróleo Brasileiro S.A. - Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. - Petrobras stock traded down $0.57 on Wednesday, reaching $11.13. 23,440,067 shares of the company traded hands, compared to its average volume of 17,501,720. Petróleo Brasileiro S.A. - Petrobras has a 52 week low of $11.03 and a 52 week high of $15.73. The company has a 50 day moving average of $11.96 and a 200 day moving average of $13.14. The firm has a market capitalization of $71.73 billion, a PE ratio of 4.35, a PEG ratio of 0.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71.

Petróleo Brasileiro S.A. - Petrobras Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be issued a $0.2806 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. This represents a yield of 17.6%. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is 86.57%.

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.