Janney Montgomery Scott LLC Cuts Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Janney Montgomery Scott LLC reduced its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 49.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,689 shares of the oil and gas exploration company’s stock after selling 52,773 shares during the period. Janney Montgomery Scott LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $774,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Petróleo Brasileiro S.A. – Petrobras by 2.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock valued at $20,809,000 after purchasing an additional 39,682 shares in the last quarter. Diversified Trust Co increased its stake in Petróleo Brasileiro S.A. – Petrobras by 127.1% in the 2nd quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock valued at $1,987,000 after purchasing an additional 76,752 shares in the last quarter. Creative Planning increased its stake in Petróleo Brasileiro S.A. – Petrobras by 31.6% in the 3rd quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock valued at $2,234,000 after purchasing an additional 37,181 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at $1,521,000. Finally, Artemis Investment Management LLP grew its holdings in 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 buying an additional 146,590 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. The Goldman Sachs Group increased their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.11 on Monday. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.90 and a twelve month high of $17.91. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average price is $14.26 and its 200 day moving average price is $14.70.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, December 27th will be issued a $0.227 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a yield of 16.3%. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 33.59%.

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.