Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 52.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 67,602 shares of the oil and gas exploration company’s stock after selling 74,776 shares during the quarter. Bank of New York Mellon Corp’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PBR. Tandem Financial LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth $39,000. Ameliora Wealth Management Ltd. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth about $51,000. Sunbelt Securities Inc. lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 497.5% in the third 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 period. Transamerica Financial Advisors Inc. bought a new position in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $99,000. Finally, Point72 Hong Kong Ltd acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter valued at about $115,000.

Wall Street Analysts Forecast Growth

PBR has been the subject of a number of research analyst reports. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday, March 5th. Hsbc Global Res upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, StockNews.com lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Up 2.0 %

PBR stock opened at $14.25 on Wednesday. The firm has a market cap of $91.83 billion, a PE ratio of 5.57, a P/E/G ratio of 0.18 and a beta of 1.39. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.45 and a 12 month high of $17.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $13.82 and a 200 day simple moving average of $13.94.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, June 27th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.2403 per share. This represents a dividend yield of 19%. The ex-dividend date of this dividend is Tuesday, April 22nd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 137.93%.

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.