Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 49.6% during the third quarter, Holdings Channel.com reports. The fund owned 53,689 shares of the oil and gas exploration company’s stock after selling 52,773 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $774,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD raised its position in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after purchasing an additional 1,889,313 shares during the period. Encompass Capital Advisors LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $73,174,000. Victory Capital Management Inc. raised its position in Petróleo Brasileiro S.A. – Petrobras by 38.4% in 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 purchasing an additional 1,039,700 shares during the period. Earnest Partners LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 4.8% in the first quarter. Earnest Partners LLC now owns 3,276,414 shares of the oil and gas exploration company’s stock valued at $49,834,000 after purchasing an additional 151,056 shares during the period. Finally, Perpetual Ltd raised its position in Petróleo Brasileiro S.A. – Petrobras by 0.9% in the third quarter. Perpetual Ltd now owns 3,152,289 shares of the oil and gas exploration company’s stock valued at $45,424,000 after purchasing an additional 29,267 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.9 %

Shares of NYSE:PBR opened at $14.11 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The stock’s 50 day moving average price is $14.26 and its 200 day moving average price is $14.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be issued a $0.227 dividend. The ex-dividend date is Friday, December 27th. This represents a dividend 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 is currently 33.59%.

Analyst Ratings Changes

PBR has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. 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 research report on Monday, August 26th. Finally, UBS Group dropped their target price on 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.24.

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.