Hennessy Advisors Inc. Sells 11,000 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Hennessy Advisors Inc. decreased its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 303,800 shares of the oil and gas exploration company’s stock after selling 11,000 shares during the period. Hennessy Advisors Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $3,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PBR. ORG Partners LLC boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 396.0% in the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,679 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 571.4% during the third quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 2,000 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 65.4% in the third quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 945 shares during the period. Sunbelt Securities Inc. grew its stake in shares of 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 valued at $87,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Activest Wealth Management increased its position in Petróleo Brasileiro S.A. – Petrobras by 67.9% during the third quarter. Activest Wealth Management now owns 6,430 shares of the oil and gas exploration company’s stock worth $93,000 after acquiring an additional 2,600 shares during the period.

Analyst Ratings Changes

A number of analysts have issued reports on PBR shares. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their price target on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. 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 Down 0.5 %

Shares of PBR opened at $13.71 on Friday. The firm has a 50 day simple moving average of $13.71 and a two-hundred day simple moving average of $14.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.55 and a one year high of $17.91. The company has a market cap of $89.39 billion, a P/E ratio of 5.35, a P/E/G ratio of 0.16 and a beta of 1.41.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a dividend of $0.5338 per share. The ex-dividend date was Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 57.81%.

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.