OVERSEA CHINESE BANKING Corp Ltd Buys New Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,325 shares of the oil and gas exploration company’s stock, valued at approximately $163,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MAS Advisors LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 5.0% during the 2nd quarter. MAS Advisors LLC now owns 15,108 shares of the oil and gas exploration company’s stock valued at $219,000 after acquiring an additional 720 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of 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 valued at $34,000 after purchasing an additional 945 shares during the period. Toronto Dominion Bank grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 15.5% in the 1st quarter. Toronto Dominion Bank now owns 7,226 shares of the oil and gas exploration company’s stock valued at $110,000 after purchasing an additional 970 shares during the period. Ascent Group LLC raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 9.2% in the 1st quarter. Ascent Group LLC now owns 12,841 shares of the oil and gas exploration company’s stock worth $195,000 after buying an additional 1,083 shares in the last quarter. Finally, Aprio Wealth Management LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 7.2% during the 2nd quarter. Aprio Wealth Management LLC now owns 16,668 shares of the oil and gas exploration company’s stock worth $242,000 after buying an additional 1,115 shares during the period.

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

PBR stock opened at $13.98 on Friday. The company has a 50 day moving average price of $14.30 and a 200 day moving average price of $14.76. 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.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.227 per share. The ex-dividend date is Friday, December 27th. This represents a dividend yield of 16.3%. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 33.59%.

Wall Street Analyst Weigh In

PBR has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, UBS Group dropped their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Company 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.