Prime Capital Investment Advisors LLC Cuts Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Prime Capital Investment Advisors LLC lowered its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,866 shares of the oil and gas exploration company’s stock after selling 2,021 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,093,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 68.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 22,612 shares of the oil and gas exploration company’s stock valued at $326,000 after acquiring an additional 9,200 shares during the period. Rakuten Securities Inc. lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 58.2% in the third quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company’s stock valued at $1,623,000 after purchasing an additional 41,447 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Petróleo Brasileiro S.A. – Petrobras during the third quarter valued at $163,000. GSA Capital Partners LLP purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the third quarter worth $877,000. Finally, Colonial River Investments LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at $174,000.

Petróleo Brasileiro S.A. – Petrobras Trading Up 1.2 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $13.98 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The firm’s fifty day moving average price is $14.30 and its 200-day moving average price is $14.76. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm 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 (DPR) is presently 33.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PBR shares. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group cut their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras 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.