Victory Capital Management Inc. Reduces Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Victory Capital Management Inc. cut its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,678,262 shares of the oil and gas exploration company’s stock after selling 67,633 shares during the period. Victory Capital Management Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $53,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PBR. Janney Montgomery Scott LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 48.8% during the first quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock worth $990,000 after acquiring an additional 21,352 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter valued at $298,000. Avantax Advisory Services Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 31.5% during the first quarter. Avantax Advisory Services Inc. now owns 41,266 shares of the oil and gas exploration company’s stock worth $628,000 after buying an additional 9,874 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter worth $166,000. Finally, Tocqueville Asset Management L.P. raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 43.6% in the first quarter. Tocqueville Asset Management L.P. now owns 15,485 shares of the oil and gas exploration company’s stock worth $236,000 after acquiring an additional 4,700 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PBR. UBS Group dropped their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research 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 target for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. The Goldman Sachs Group raised their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $20.00 in a report on Monday, August 26th. Finally, Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $18.24.

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

PBR stock opened at $13.98 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.67 and a current ratio of 0.94. The business has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $14.76. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.227 per share. The ex-dividend date is Friday, December 27th. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. This represents a yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 33.59%.

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.