Kovitz Investment Group Partners LLC Trims Stock Position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Kovitz Investment Group Partners LLC lessened its position in shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 20.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 300,680 shares of the oil and gas exploration company's stock after selling 75,806 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $3,867,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PBR. Ethos Financial Group LLC acquired a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the 4th quarter valued at $25,000. Tandem Financial LLC acquired a new position in Petróleo Brasileiro S.A. - Petrobras in the fourth quarter valued at $39,000. Whipplewood Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. - Petrobras in the fourth quarter valued at about $40,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Petróleo Brasileiro S.A. - Petrobras during the fourth quarter worth about $51,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras during the fourth quarter worth about $162,000.

Petróleo Brasileiro S.A. - Petrobras Price Performance

PBR stock traded up $0.06 during trading on Thursday, reaching $11.35. 17,199,381 shares of the company were exchanged, compared to its average volume of 17,409,472. Petróleo Brasileiro S.A. - Petrobras has a 52-week low of $11.03 and a 52-week high of $17.44. 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 $73.11 billion, a P/E ratio of 4.43, a PEG ratio of 0.18 and a beta of 0.94. The stock's 50 day moving average price is $12.84 and its 200 day moving average price is $13.48.

Petróleo Brasileiro S.A. - Petrobras Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be paid a $0.2403 dividend. This represents a yield of 19%. The ex-dividend date is Tuesday, April 22nd. Petróleo Brasileiro S.A. - Petrobras's payout ratio is currently 120.69%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PBR shares. HSBC raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research note on Wednesday, March 5th. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, StockNews.com cut shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.81.

About Petróleo 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.