Centric Wealth Management Grows Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Centric Wealth Management raised its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 30.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 112,699 shares of the oil and gas exploration company’s stock after purchasing an additional 26,000 shares during the quarter. Centric Wealth Management’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,510,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PBR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at approximately $141,372,000. Encompass Capital Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at $73,174,000. Mondrian Investment Partners LTD grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after buying an additional 1,889,313 shares during the last quarter. Fisher Asset Management LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 13.1% during the 3rd quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock worth $227,961,000 after acquiring an additional 1,835,297 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Petróleo Brasileiro S.A. – Petrobras by 38.4% in the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after acquiring an additional 1,039,700 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on PBR shares. JPMorgan Chase & Co. upgraded 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. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. The Goldman Sachs Group lifted their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR opened at $14.36 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week high of $17.91. The company has a 50-day simple moving average of $14.23 and a 200-day simple moving average of $14.57. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

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 issued a dividend of $0.5338 per share. The ex-dividend date is Friday, December 13th. This represents a yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 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.