Cerity Partners LLC Increases Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Cerity Partners LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 143.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,041 shares of the oil and gas exploration company’s stock after purchasing an additional 18,883 shares during the quarter. Cerity Partners LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PBR. Encompass Capital Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $73,174,000. Mondrian Investment Partners LTD boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% during the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after acquiring an additional 1,889,313 shares during the last quarter. Victory Capital Management Inc. grew its stake in Petróleo Brasileiro S.A. – Petrobras by 38.4% during the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after acquiring an additional 1,039,700 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter worth $2,994,000. Finally, Artemis Investment Management LLP boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 5.1% during the 3rd quarter. Artemis Investment Management LLP now owns 3,044,971 shares of the oil and gas exploration company’s stock valued at $43,878,000 after purchasing an additional 146,590 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PBR. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a report on Monday, August 26th. UBS Group decreased their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. Hsbc Global Res lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group upped their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of PBR opened at $13.86 on Monday. 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 business has a fifty day moving average of $14.17 and a 200 day moving average of $14.50. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a — dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.5338 dividend. The ex-dividend date is Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 35.94%.

Petróleo 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.