Ping Capital Management Inc. Boosts Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Ping Capital Management Inc. boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the oil and gas exploration company’s stock after purchasing an additional 26,900 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras makes up 0.2% of Ping Capital Management Inc.’s holdings, making the stock its 24th largest position. Ping Capital Management Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,029,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PBR. Northwestern Mutual Wealth Management Co. lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 16.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 55,637 shares of the oil and gas exploration company’s stock valued at $806,000 after acquiring an additional 7,749 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Petróleo Brasileiro S.A. – Petrobras by 36.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 19,217 shares of the oil and gas exploration company’s stock worth $283,000 after acquiring an additional 5,104 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $1,521,000. Park Avenue Securities LLC raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 27.0% in the 3rd quarter. Park Avenue Securities LLC now owns 63,486 shares of the oil and gas exploration company’s stock valued at $915,000 after acquiring an additional 13,479 shares during the last quarter. Finally, Aprio Wealth Management LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 8.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 18,013 shares of the oil and gas exploration company’s stock worth $260,000 after purchasing an additional 1,345 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price objective 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. HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. 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, October 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of PBR opened at $14.14 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $13.65 and its 200-day simple moving average is $14.16. The firm has a market capitalization of $91.45 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.18 and a beta of 1.40. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.55 and a twelve month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a dividend of $0.5338 per share. This represents a dividend yield of 18.8%. The ex-dividend date was Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 58.20%.

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.