Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 63.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,898 shares of the oil and gas exploration company’s stock after selling 19,228 shares during the quarter. Cresset Asset Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox grew its position in Petróleo Brasileiro S.A. – Petrobras by 4.8% during the fourth quarter. Dodge & Cox now owns 17,300 shares of the oil and gas exploration company’s stock valued at $222,000 after buying an additional 800 shares during the period. Sonora Investment Management Group LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 6.2% during the fourth quarter. Sonora Investment Management Group LLC now owns 17,070 shares of the oil and gas exploration company’s stock valued at $220,000 after buying an additional 1,000 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Petróleo Brasileiro S.A. – Petrobras by 5.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 23,536 shares of the oil and gas exploration company’s stock valued at $303,000 after buying an additional 1,164 shares during the period. Samalin Investment Counsel LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 9.8% during the fourth quarter. Samalin Investment Counsel LLC now owns 14,194 shares of the oil and gas exploration company’s stock valued at $183,000 after buying an additional 1,269 shares during the period. Finally, Principal Financial Group Inc. grew its position in Petróleo Brasileiro S.A. – Petrobras by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 43,486 shares of the oil and gas exploration company’s stock valued at $559,000 after buying an additional 1,381 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $12.03 on Monday. The company’s 50-day moving average price is $12.45 and its 200-day moving average price is $13.29. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $77.49 billion, a P/E ratio of 4.70, a P/E/G ratio of 0.18 and a beta of 0.87. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $11.03 and a twelve month high of $15.73.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Friday, June 27th. Stockholders of record on Tuesday, April 22nd will be paid a $0.2403 dividend. This represents a dividend yield of 19%. The ex-dividend date is Tuesday, April 22nd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 78.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PBR. StockNews.com raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Jefferies Financial Group raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.30 price objective on the stock in a report on Thursday. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, March 5th. Finally, Hsbc Global Res raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras has an average rating of “Buy” and a consensus price target of $17.47.

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.