Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Position Trimmed by RWC Asset Advisors US LLC

Key Points

• RWC Asset Advisors US LLC reduced its holdings in Petroleo Brasileiro S.A.- Petrobras by 12%, owning 4,588,150 shares valued at approximately $65.79 million.
• Petroleo Brasileiro S.A.- Petrobras currently enjoys a consensus rating of "Buy" with a target price of $17.40, following multiple rating upgrades from analysts.
• The company has announced an increase in its dividend to $0.2806 per share, representing a significant yield of 17.6% for shareholders.

RWC Asset Advisors US LLC lessened its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,588,150 shares of the oil and gas exploration company's stock after selling 628,444 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras comprises approximately 12.0% of RWC Asset Advisors US LLC's portfolio, making the stock its 4th biggest position. RWC Asset Advisors US LLC owned about 0.07% of Petroleo Brasileiro S.A.- Petrobras worth $65,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,971 shares of the oil and gas exploration company's stock worth $760,000 after acquiring an additional 3,537 shares during the period. Assetmark Inc. grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 12.5% during the first quarter. Assetmark Inc. now owns 1,008,475 shares of the oil and gas exploration company's stock worth $14,462,000 after acquiring an additional 111,757 shares during the period. Avantax Advisory Services Inc. grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 31.8% during the first quarter. Avantax Advisory Services Inc. now owns 144,098 shares of the oil and gas exploration company's stock worth $2,066,000 after acquiring an additional 34,787 shares during the period. Journey Strategic Wealth LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 42.9% during the first quarter. Journey Strategic Wealth LLC now owns 41,070 shares of the oil and gas exploration company's stock worth $589,000 after acquiring an additional 12,320 shares during the period. Finally, Redwood Park Advisors LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 95.6% during the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company's stock worth $53,000 after acquiring an additional 1,810 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR traded down $0.07 during trading hours on Wednesday, reaching $12.77. 9,378,336 shares of the company traded hands, compared to its average volume of 20,799,672. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $82.32 billion, a PE ratio of 9.52 and a beta of 0.85. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.73. The stock has a fifty day simple moving average of $12.33 and a 200 day simple moving average of $12.80.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The business 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. The ex-dividend date is Wednesday, June 4th. This represents a dividend yield of 17.6%. This is a positive change from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 73.88%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PBR shares. Bank of America lowered Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Jefferies Financial Group raised 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 report on Thursday, May 15th. Finally, Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target 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.