Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is ARGA Investment Management LP’s 9th Largest Position

ARGA Investment Management LP lowered its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,997,798 shares of the oil and gas exploration company’s stock after selling 213,239 shares during the period. Petróleo Brasileiro S.A. – Petrobras accounts for approximately 4.6% of ARGA Investment Management LP’s portfolio, making the stock its 9th biggest holding. ARGA Investment Management LP owned approximately 0.17% of Petróleo Brasileiro S.A. – Petrobras worth $141,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% in the third quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,679 shares in the last quarter. Bogart Wealth LLC raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 571.4% in the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 2,000 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 65.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 945 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 497.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company’s stock worth $87,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Activest Wealth Management grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 67.9% in the third quarter. Activest Wealth Management now owns 6,430 shares of the oil and gas exploration company’s stock valued at $93,000 after purchasing an additional 2,600 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR opened at $14.14 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.55 and a 52 week high of $17.91. The stock’s fifty day moving average is $13.65 and its two-hundred day moving average is $14.16. The company has a market capitalization of $91.45 billion, a P/E ratio of 5.52, a P/E/G ratio of 0.18 and a beta of 1.40. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.5338 dividend. The ex-dividend date was Friday, December 13th. This represents a yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 58.20%.

Analysts Set New Price Targets

PBR has been the topic of a number of analyst reports. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price target on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Profile

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.