Victory Capital Management Inc. Has $22.38 Million Position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Victory Capital Management Inc. decreased its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 55.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,560,695 shares of the oil and gas exploration company's stock after selling 1,942,743 shares during the quarter. Victory Capital Management Inc.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $22,380,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PBR. Commonwealth Equity Services LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 18.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 294,828 shares of the oil and gas exploration company's stock worth $3,791,000 after acquiring an additional 46,429 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 5.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 23,536 shares of the oil and gas exploration company's stock worth $303,000 after purchasing an additional 1,164 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 49.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 26,705 shares of the oil and gas exploration company's stock valued at $343,000 after acquiring an additional 8,796 shares in the last quarter. Samalin Investment Counsel LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 9.8% in the fourth quarter. Samalin Investment Counsel LLC now owns 14,194 shares of the oil and gas exploration company's stock valued at $183,000 after acquiring an additional 1,269 shares in the last quarter. Finally, GQG Partners LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 2.6% in the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company's stock valued at $3,050,855,000 after acquiring an additional 6,016,560 shares in the last quarter.

Analysts Set New Price Targets

PBR has been the subject of a number of research analyst reports. Bank of America cut shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Wall Street Zen upgraded shares of 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 shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective on the stock in a report on Thursday, May 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $17.40.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.3%

NYSE PBR traded down $0.04 during trading on Thursday, reaching $12.62. 12,404,895 shares of the stock traded hands, compared to its average volume of 20,692,730. 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 fifty-two week low of $11.03 and a fifty-two week high of $15.73. The stock's 50-day moving average price is $12.28 and its 200 day moving average price is $12.83. The firm has a market cap of $81.30 billion, a price-to-earnings ratio of 9.41 and a beta of 0.85.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, June 4th will be issued a $0.2806 dividend. This is an increase from Petroleo 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. Petroleo Brasileiro S.A.- Petrobras's payout ratio is currently 73.88%.

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.