37,600 Petroleo Brasileiro S.A.- Petrobras $PBR Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 817,800 shares of the oil and gas exploration company’s stock after selling 37,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $17,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Artemis Investment Management LLP lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 4.2% in the third quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock worth $138,640,000 after buying an additional 270,422 shares in the last quarter. Oaktree Capital Management LP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $126,355,000. Carrhae Capital LLP bought a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at approximately $87,456,000. RWC Asset Advisors US LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 17.7% in the third quarter. RWC Asset Advisors US LLC now owns 4,409,205 shares of the oil and gas exploration company’s stock worth $92,020,000 after purchasing an additional 662,712 shares during the last quarter. Finally, DJE Kapital AG purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth approximately $65,428,000.

Analysts Set New Price Targets

PBR has been the subject of several research reports. UBS Group upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. JPMorgan Chase & Co. lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $22.06 on Monday. The company has a 50-day moving average price of $21.98 and a 200 day moving average price of $19.04. The stock has a market cap of $142.16 billion, a PE ratio of 5.57, a P/E/G ratio of 1.97 and a beta of 0.33. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $26.39.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.