Banco Santander S.A. Buys 3,441 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Banco Santander S.A. increased its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 111,073 shares of the oil and gas exploration company’s stock after acquiring an additional 3,441 shares during the period. Banco Santander S.A.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,601,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MAS Advisors LLC increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 5.0% in the second quarter. MAS Advisors LLC now owns 15,108 shares of the oil and gas exploration company’s stock valued at $219,000 after buying an additional 720 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 65.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 945 shares during the last quarter. Toronto Dominion Bank raised 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 acquiring an additional 970 shares during the period. Ascent Group LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 9.2% during the first 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 during the period. Finally, Aprio Wealth Management LLC increased its stake in Petróleo Brasileiro S.A. – Petrobras by 7.2% during the second quarter. Aprio Wealth Management LLC now owns 16,668 shares of the oil and gas exploration company’s stock worth $242,000 after purchasing an additional 1,115 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PBR. The Goldman Sachs Group lifted their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $14.90 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91. The company’s 50-day simple moving average is $14.25 and its 200-day simple moving average is $14.64.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.227 per share. This represents a yield of 16.3%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date is Friday, December 27th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 30.08%.

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 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.