Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Shares Sold by Moneda S.A. Administradora General de Fondos

Key Points

• Moneda S.A. Administradora General de Fondos has reduced its stake in Petroleo Brasileiro S.A.- Petrobras by 25.2%, now holding 649,649 shares valued at approximately $9.3 million.
• Petroleo Brasileiro S.A.- Petrobras recently announced a dividend increase to $0.2806 per share, representing a yield of 17.6%.
• Analyst ratings for Petrobras have been mixed, with Jefferies upgrading it to a "buy" with a target price of $15.30, while Bank of America downgraded it to "neutral."

Moneda S.A. Administradora General de Fondos lessened its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 649,649 shares of the oil and gas exploration company's stock after selling 218,433 shares during the period. Petroleo Brasileiro S.A.- Petrobras comprises approximately 10.0% of Moneda S.A. Administradora General de Fondos' investment portfolio, making the stock its 2nd largest holding. Moneda S.A. Administradora General de Fondos' holdings in Petroleo Brasileiro S.A.- Petrobras were worth $9,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $32,000. Redwood Park Advisors LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock valued at $53,000 after buying an additional 1,810 shares in the last quarter. Kapitalo Investimentos Ltda raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 104.4% during the 4th quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock worth $86,000 after buying an additional 156,663 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter valued at approximately $93,000.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Petroleo Brasileiro S.A.- Petrobras stock opened at $12.67 on Friday. The company has a fifty day simple moving average of $12.29 and a 200-day simple moving average of $12.82. The firm has a market capitalization of $81.62 billion, a price-to-earnings ratio of 9.45 and a beta of 0.85. 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 has a 52-week low of $11.03 and a 52-week high of $15.73.

Petroleo 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 paid a dividend of $0.2806 per share. This represents a yield of 17.6%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is currently 73.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group raised shares of 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. Bank of America lowered shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. Finally, 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target 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.

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