Prime Capital Investment Advisors LLC Sells 2,021 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Prime Capital Investment Advisors LLC cut its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,866 shares of the oil and gas exploration company’s stock after selling 2,021 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PBR. Rakuten Securities Inc. grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 58.2% during the 3rd quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company’s stock worth $1,623,000 after buying an additional 41,447 shares during the period. Mackenzie Financial Corp grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 2.8% in 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 purchasing an additional 39,682 shares during the period. Janney Montgomery Scott LLC increased its stake in Petróleo Brasileiro S.A. – Petrobras by 48.8% in the first quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock valued at $990,000 after purchasing an additional 21,352 shares in the last quarter. Diversified Trust Co raised its holdings in shares of 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 valued at $1,987,000 after purchasing an additional 76,752 shares during the period. Finally, Creative Planning grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 31.6% in the 3rd quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock valued at $2,234,000 after buying an additional 37,181 shares during the period.

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

Petróleo Brasileiro S.A. – Petrobras stock opened at $13.98 on Friday. 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 debt-to-equity ratio of 0.65, a quick ratio of 0.67 and a current ratio of 0.94. The firm’s 50-day simple moving average is $14.30 and its 200 day simple moving average is $14.76.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be issued a $0.227 dividend. The ex-dividend date of this dividend 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 dividend yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 33.59%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PBR. UBS Group cut their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $20.00 in a report on Monday, August 26th. Finally, HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.24.

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.