Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stake Increased by University of Texas Texas AM Investment Management Co.

Key Points

• The University of Texas Texas AM Investment Management Co. increased its stake in Petroleo Brasileiro S.A.- Petrobras by 58.3% during the first quarter, acquiring an additional 111,434 shares.
• Petroleo Brasileiro S.A.- Petrobras announced a dividend of $0.2806 per share, yielding 17.6%, which is an increase from the previous dividend of $0.24.
• The stock currently holds a consensus rating of "Buy" with an average price target of $17.40 following various analyst upgrades.

University of Texas Texas AM Investment Management Co. boosted its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 58.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 302,485 shares of the oil and gas exploration company's stock after buying an additional 111,434 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $4,338,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PBR. Lazard Asset Management LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 16.4% during the 4th 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 acquiring an additional 3,072,312 shares during the last quarter. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.3% in the first quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company's stock worth $158,258,000 after purchasing an additional 38,312 shares during the period. Carrhae Capital LLP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at $64,765,000. Artemis Investment Management LLP boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 30.2% in the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company's stock worth $56,052,000 after acquiring an additional 905,800 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $29,984,000.

Petroleo Brasileiro S.A.- Petrobras Trading Down 1.3%

PBR stock traded down $0.17 during trading on Thursday, reaching $12.77. 11,364,798 shares of the stock traded hands, compared to its average volume of 20,846,824. The business's 50 day moving average price is $12.35 and its 200-day moving average price is $12.80. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $15.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The firm has a market capitalization of $82.26 billion, a PE ratio of 9.53 and a beta of 0.85.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The business also recently declared a -- dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.2806 per share. This represents a dividend yield of 17.6%. This is a boost from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. The ex-dividend date is Wednesday, June 4th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is presently 73.88%.

Wall Street Analyst Weigh In

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

About Petroleo Brasileiro S.A.- Petrobras

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.