Wellington Management Group LLP Boosts Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Wellington Management Group LLP boosted its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 24.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 750,938 shares of the oil and gas exploration company’s stock after purchasing an additional 146,706 shares during the quarter. Wellington Management Group LLP’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $10,821,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PBR. Quantinno Capital Management LP boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 34.1% in the third quarter. Quantinno Capital Management LP now owns 20,438 shares of the oil and gas exploration company’s stock valued at $295,000 after acquiring an additional 5,202 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $386,000. Hilltop Holdings Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 18.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,936 shares of the oil and gas exploration company’s stock valued at $186,000 after purchasing an additional 2,048 shares during the period. Ascent Group LLC grew its stake in Petróleo Brasileiro S.A. – Petrobras by 8.2% during the 3rd quarter. Ascent Group LLC now owns 13,722 shares of the oil and gas exploration company’s stock worth $198,000 after buying an additional 1,044 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the third quarter worth approximately $115,000.

Petróleo Brasileiro S.A. – Petrobras Trading Down 4.6 %

PBR stock opened at $13.61 on Monday. The company has a fifty day moving average of $14.10 and a 200-day moving average of $14.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91.

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 given a $0.5338 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 35.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group decreased 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 research note on Monday, August 19th. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Finally, Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.24.

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.