Ramirez Asset Management Inc. Decreases Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Ramirez Asset Management Inc. cut its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 4.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 340,017 shares of the oil and gas exploration company’s stock after selling 16,204 shares during the quarter. Petróleo Brasileiro S.A. – Petrobras makes up approximately 0.9% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 29th biggest position. Ramirez Asset Management Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $4,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ethos Financial Group LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $25,000. Tandem Financial LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at about $39,000. Whipplewood Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $40,000. Ameliora Wealth Management Ltd. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $51,000. Finally, Sunbelt Securities Inc. boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 497.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company’s stock valued at $87,000 after purchasing an additional 5,000 shares during the last quarter.

Wall Street Analyst Weigh In

PBR has been the topic of several analyst reports. StockNews.com lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, March 5th. Finally, Hsbc Global Res raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.41 on Friday. The stock has a market capitalization of $92.83 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The business has a 50-day moving average of $13.84 and a 200 day moving average of $13.94. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.45 and a 12 month high of $17.44.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be issued a $0.2403 dividend. This represents a dividend yield of 19%. The ex-dividend date of this dividend is Tuesday, April 22nd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 137.93%.

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.