Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 24.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 750,938 shares of the oil and gas exploration company’s stock after acquiring an additional 146,706 shares during the period. Wellington Management Group LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $10,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 15.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 35,710 shares of the oil and gas exploration company’s stock worth $517,000 after buying an additional 4,856 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $35,000. KG&L Capital Management LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth approximately $475,000. Boyd Wealth Management LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth approximately $278,000. Finally, Traynor Capital Management Inc. grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 17.7% in the 2nd quarter. Traynor Capital Management Inc. now owns 13,730 shares of the oil and gas exploration company’s stock worth $199,000 after acquiring an additional 2,062 shares during the period.

Analysts Set New Price Targets

A number of analysts have commented on PBR shares. 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 research report on Tuesday, November 12th. UBS Group decreased their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $20.00 in a research note on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. Finally, 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Down 4.6 %

NYSE:PBR opened at $13.61 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91. The company’s 50-day moving average is $14.10 and its two-hundred day moving average is $14.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.5338 per share. This represents a dividend yield of 18.8%. The ex-dividend date of this dividend is Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 35.94%.

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.