Voloridge Investment Management LLC cut its holdings in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 79.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 813,897 shares of the oil and gas exploration company's stock after selling 3,112,140 shares during the quarter. Voloridge Investment Management LLC's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $10,467,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Waverly Advisors LLC bought a new position in shares of Petróleo Brasileiro S.A. - Petrobras during the fourth quarter valued at $185,000. State of Wyoming lifted its stake in Petróleo Brasileiro S.A. - Petrobras by 6.2% during the 4th quarter. State of Wyoming now owns 59,523 shares of the oil and gas exploration company's stock valued at $765,000 after acquiring an additional 3,450 shares during the period. Quantinno Capital Management LP lifted its stake in Petróleo Brasileiro S.A. - Petrobras by 54.1% during the 4th quarter. Quantinno Capital Management LP now owns 31,499 shares of the oil and gas exploration company's stock valued at $405,000 after acquiring an additional 11,061 shares during the period. Parkwood LLC boosted its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 84.2% during the 4th quarter. Parkwood LLC now owns 529,116 shares of the oil and gas exploration company's stock valued at $6,804,000 after acquiring an additional 241,884 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 16.4% in the fourth quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company's stock worth $279,779,000 after acquiring an additional 3,072,312 shares during the period.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on PBR shares. Hsbc Global Res upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Jefferies Financial Group raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price on the stock in a research report on Thursday, May 15th. Wall Street Zen upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, HSBC upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $17.47.
Get Our Latest Stock Report on PBR
Petróleo Brasileiro S.A. - Petrobras Stock Performance
Shares of NYSE PBR traded down $0.20 during trading on Wednesday, hitting $11.72. The company had a trading volume of 17,609,802 shares, compared to its average volume of 17,415,814. The firm has a market capitalization of $75.53 billion, a P/E ratio of 4.58, a price-to-earnings-growth ratio of 0.18 and a beta of 0.87. Petróleo Brasileiro S.A. - Petrobras has a 12 month low of $11.03 and a 12 month high of $15.73. The stock has a 50 day simple moving average of $12.22 and a 200 day simple moving average of $13.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.
Petróleo 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 dividend of $0.2806 per share. This is a positive change from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. This represents a yield of 17.6%. The ex-dividend date is Wednesday, June 4th. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is 86.57%.
Petróleo Brasileiro S.A. - Petrobras Profile
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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.
Further Reading
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