Petroleo Brasileiro S.A.- Petrobras $PBR Stake Reduced by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817,800 shares of the oil and gas exploration company’s stock after selling 37,600 shares during the period. Hennessy Advisors Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $17,067,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oaktree Capital Management LP bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $126,355,000. Carrhae Capital LLP acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth approximately $87,456,000. DJE Kapital AG bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $65,428,000. Public Employees Retirement System of Ohio bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth $42,858,000. Finally, Ashoka WhiteOak Capital Pte Ltd bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter worth $24,506,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. boosted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research report on Saturday. UBS Group raised their price objective on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Finally, Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE PBR opened at $22.06 on Monday. The company has a market cap of $142.16 billion, a P/E ratio of 5.57, a PEG ratio of 1.97 and a beta of 0.33. The company has a fifty day simple moving average of $21.98 and a 200 day simple moving average of $19.04. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $26.39.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.