ARGA Investment Management LP Cuts Stock Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

ARGA Investment Management LP decreased its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,211,037 shares of the oil and gas exploration company’s stock after selling 1,523,918 shares during the period. Petróleo Brasileiro S.A. – Petrobras accounts for approximately 5.3% of ARGA Investment Management LP’s holdings, making the stock its 6th largest position. ARGA Investment Management LP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $161,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PBR. Rakuten Securities Inc. grew 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 in the last quarter. Mackenzie Financial Corp increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 2.8% during the second quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock worth $20,809,000 after buying an additional 39,682 shares during the last quarter. Diversified Trust Co increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 127.1% during the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock worth $1,987,000 after buying an additional 76,752 shares during the last quarter. Creative Planning raised its position in Petróleo Brasileiro S.A. – Petrobras by 31.6% during the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock worth $2,234,000 after acquiring an additional 37,181 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at $1,521,000.

Analyst Upgrades and Downgrades

PBR has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group dropped their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock opened at $14.28 on Friday. The business’s fifty day moving average price is $14.23 and its two-hundred day moving average price is $14.54. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.5338 dividend. This represents a yield of 18.8%. The ex-dividend date of this dividend is Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 35.94%.

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.