Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,678,262 shares of the oil and gas exploration company’s stock after selling 67,633 shares during the quarter. Victory Capital Management Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $53,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PBR. Rakuten Securities Inc. lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 58.2% during the third quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company’s stock worth $1,623,000 after purchasing an additional 41,447 shares in the last quarter. Mackenzie Financial Corp lifted its position in Petróleo Brasileiro S.A. – Petrobras by 2.8% during the 2nd quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock worth $20,809,000 after acquiring an additional 39,682 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 48.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock worth $990,000 after acquiring an additional 21,352 shares during the period. Diversified Trust Co grew its position in Petróleo Brasileiro S.A. – Petrobras by 127.1% in the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock valued at $1,987,000 after acquiring an additional 76,752 shares in the last quarter. Finally, Creative Planning grew its position in Petróleo Brasileiro S.A. – Petrobras by 31.6% in the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock valued at $2,234,000 after acquiring an additional 37,181 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research report on Monday, August 26th. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group raised their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR opened at $13.98 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91. The stock has a 50-day simple moving average of $14.30 and a 200 day simple moving average of $14.76.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

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.