Channing Global Advisors LLC Reduces Stock Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Channing Global Advisors LLC trimmed its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 44.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,793 shares of the oil and gas exploration company’s stock after selling 15,831 shares during the period. Channing Global Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $316,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 2.7% in the third quarter. Checchi Capital Advisers LLC now owns 25,750 shares of the oil and gas exploration company’s stock worth $386,000 after acquiring an additional 675 shares during the period. Cerity Partners LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 7.4% during the fourth quarter. Cerity Partners LLC now owns 12,280 shares of the oil and gas exploration company’s stock worth $196,000 after buying an additional 848 shares during the period. Grey Street Capital LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 3.4% during the fourth quarter. Grey Street Capital LLC now owns 26,227 shares of the oil and gas exploration company’s stock worth $439,000 after buying an additional 858 shares during the period. Morningstar Investment Services LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 5.7% during the third quarter. Morningstar Investment Services LLC now owns 22,867 shares of the oil and gas exploration company’s stock worth $339,000 after buying an additional 1,238 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 19.8% during the third quarter. J.W. Cole Advisors Inc. now owns 12,207 shares of the oil and gas exploration company’s stock worth $183,000 after buying an additional 2,014 shares during the period.

Analyst Ratings Changes

PBR has been the subject of a number of recent research reports. UBS Group lifted their target price on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a report on Monday, March 25th. Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $20.00 to $18.00 in a report on Monday, March 11th. Bank of America lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Friday, March 8th. Finally, HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR traded up $0.41 during midday trading on Friday, reaching $17.04. 5,835,709 shares of the stock were exchanged, compared to its average volume of 19,413,225. The business’s 50-day moving average price is $15.96 and its 200 day moving average price is $15.88. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $10.01 and a twelve month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.15. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. The business had revenue of $27.11 billion for the quarter, compared to analysts’ expectations of $26.45 billion. As a group, equities analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.51 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, April 29th will be given a $0.2084 dividend. This represents a $0.83 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, April 26th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 12.83%.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.