Whittier Trust Co. Grows Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Whittier Trust Co. grew its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 7.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,405 shares of the oil and gas exploration company’s stock after acquiring an additional 3,684 shares during the period. Whittier Trust Co.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $741,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mondrian Investment Partners LTD raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd 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 acquiring an additional 1,889,313 shares during the period. Artemis Investment Management LLP raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 27.7% in the 1st quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock valued at $95,452,000 after acquiring an additional 1,362,108 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at approximately $73,174,000. Victory Capital Management Inc. raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% in the 2nd 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 during the period. Finally, Earnest Partners LLC raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 4.8% in the 1st 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 acquiring an additional 151,056 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of NYSE:PBR opened at $13.65 on Thursday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The company’s 50 day moving average is $14.77 and its two-hundred day moving average is $15.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The company had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. On average, analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.4 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently announced a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be given a $0.165 dividend. This represents a dividend yield of 15.4%. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 34.68%.

Analyst Ratings Changes

PBR has been the topic of several recent research reports. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and upped their target price for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group cut their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and an average target price of $18.20.

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.