DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Buys Shares of 41,000 Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 41,000 shares of the oil and gas exploration company’s stock, valued at approximately $527,000.

A number of other hedge funds have also modified their holdings of the company. Dodge & Cox raised its position in Petróleo Brasileiro S.A. – Petrobras by 4.8% during the fourth quarter. Dodge & Cox now owns 17,300 shares of the oil and gas exploration company’s stock worth $222,000 after acquiring an additional 800 shares in the last quarter. Sonora Investment Management Group LLC raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 6.2% in the 4th quarter. Sonora Investment Management Group LLC now owns 17,070 shares of the oil and gas exploration company’s stock valued at $220,000 after purchasing an additional 1,000 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 5.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 23,536 shares of the oil and gas exploration company’s stock valued at $303,000 after purchasing an additional 1,164 shares during the last quarter. Samalin Investment Counsel LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 9.8% in the 4th quarter. Samalin Investment Counsel LLC now owns 14,194 shares of the oil and gas exploration company’s stock valued at $183,000 after purchasing an additional 1,269 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 43,486 shares of the oil and gas exploration company’s stock worth $559,000 after buying an additional 1,381 shares during the last quarter.

Wall Street Analyst Weigh In

PBR has been the topic of several research reports. Hsbc Global Res upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. StockNews.com lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, HSBC upgraded shares of 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 report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR opened at $11.80 on Monday. The company has a market capitalization of $76.04 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.18 and a beta of 0.87. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $12.52 and a 200-day moving average price of $13.34. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $11.03 and a twelve month high of $17.37.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, June 27th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.2403 per share. This represents a dividend yield of 19%. The ex-dividend date of this dividend is Tuesday, April 22nd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 90.52%.

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.