924,858 Petroleo Brasileiro S.A.- Petrobras $PBR Shares Sold by Perpetual Ltd

Perpetual Ltd decreased its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 15.6% during the third quarter, HoldingsChannel reports. The firm owned 5,021,258 shares of the oil and gas exploration company’s stock after selling 924,858 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras makes up about 1.6% of Perpetual Ltd’s investment portfolio, making the stock its 18th largest position. Perpetual Ltd’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $104,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Inspire Investing LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 8.8% during the first quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock valued at $147,000 after buying an additional 574 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company’s stock valued at $501,000 after acquiring an additional 696 shares during the period. Drum Hill Capital LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the 1st quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company’s stock valued at $2,746,000 after acquiring an additional 714 shares during the period. Ascent Group LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 5.9% in the 2nd quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company’s stock worth $254,000 after acquiring an additional 868 shares during the last quarter. Finally, McIlrath & Eck LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 8.7% in the 1st quarter. McIlrath & Eck LLC now owns 12,267 shares of the oil and gas exploration company’s stock worth $255,000 after acquiring an additional 980 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.5%

NYSE:PBR opened at $25.43 on Tuesday. The firm has a market capitalization of $163.91 billion, a P/E ratio of 6.42, a PEG ratio of 0.99 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $25.80. The company’s fifty day moving average price is $20.29 and its 200-day moving average price is $19.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Wall Street Analyst Weigh In

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

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.