Salem Investment Counselors Inc. raised its holdings in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 520,911 shares of the oil and gas exploration company's stock after acquiring an additional 94,165 shares during the period. Salem Investment Counselors Inc.'s holdings in Petróleo Brasileiro S.A. - Petrobras were worth $7,470,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. City Holding Co. acquired a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the 1st quarter valued at $97,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the 1st quarter valued at $169,000. SeaCrest Wealth Management LLC lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 3.6% in the 1st quarter. SeaCrest Wealth Management LLC now owns 58,125 shares of the oil and gas exploration company's stock valued at $834,000 after purchasing an additional 2,012 shares during the period. Annex Advisory Services LLC lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 20.5% in the 1st quarter. Annex Advisory Services LLC now owns 1,818,558 shares of the oil and gas exploration company's stock valued at $26,078,000 after purchasing an additional 309,752 shares during the period. Finally, Viking Fund Management LLC lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 15.0% in the 1st quarter. Viking Fund Management LLC now owns 23,000 shares of the oil and gas exploration company's stock valued at $330,000 after purchasing an additional 3,000 shares during the period.
Petróleo Brasileiro S.A. - Petrobras Price Performance
Shares of NYSE:PBR traded up $0.32 during midday trading on Friday, hitting $12.72. The company's stock had a trading volume of 44,363,862 shares, compared to its average volume of 17,764,982. The business's 50 day simple moving average is $11.65 and its 200 day simple moving average is $13.01. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. The company has a market cap of $81.94 billion, a P/E ratio of 4.97, a price-to-earnings-growth ratio of 0.18 and a beta of 0.84. Petróleo Brasileiro S.A. - Petrobras has a 12-month low of $11.03 and a 12-month high of $15.73.
Petróleo Brasileiro S.A. - Petrobras Increases Dividend
The firm also recently declared 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 an increase from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. This represents a dividend yield of 17.6%. The ex-dividend date of this dividend is Wednesday, June 4th. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is currently 86.57%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on PBR. 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 Global Res raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Jefferies Financial Group raised shares of Petróleo 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. HSBC raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a report on Wednesday, March 5th. Finally, Bank of America cut shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. - Petrobras currently has a consensus rating of "Buy" and an average price target of $17.47.
Check Out Our Latest Research Report on PBR
About Petróleo Brasileiro S.A. - Petrobras
(
Free Report)
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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