University of Texas Texas AM Investment Management Co. Buys 111,434 Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

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. raised its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 58.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 302,485 shares of the oil and gas exploration company's stock after purchasing 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.

Other large investors have also bought and sold shares of the company. Orion Portfolio Solutions LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 10.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 92,098 shares of the oil and gas exploration company's stock valued at $1,184,000 after acquiring an additional 8,995 shares in the last quarter. IPG Investment Advisors LLC lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 40.2% during the 4th quarter. IPG Investment Advisors LLC now owns 438,650 shares of the oil and gas exploration company's stock valued at $6,087,000 after acquiring an additional 125,860 shares during the period. Integrated Quantitative Investments LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth approximately $302,000. Ted Buchan & Co raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 60.9% during the fourth quarter. Ted Buchan & Co now owns 216,399 shares of the oil and gas exploration company's stock valued at $2,783,000 after purchasing an additional 81,867 shares during the last quarter. Finally, Abacus FCF Advisors LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at approximately $1,441,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE:PBR traded down $0.06 during trading hours on Monday, hitting $12.54. 48,900,263 shares of the stock traded hands, compared to its average volume of 17,211,076. The company has a market cap of $80.81 billion, a price-to-earnings ratio of 9.36 and a beta of 0.85. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.73. The stock has a 50 day moving average price of $12.31 and a 200 day moving average price of $12.80. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be paid a $0.2806 dividend. This is a positive change from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a dividend yield of 17.6%. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is 73.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price for the company in a research note on Thursday, May 15th. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. One 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 company presently has a consensus rating of "Buy" and an average 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.