Banco Santander S.A. Sells 147,574 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Banco Santander S.A. lowered its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 50.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,387 shares of the oil and gas exploration company’s stock after selling 147,574 shares during the period. Banco Santander S.A.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $1,853,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $26,000. Geneos Wealth Management Inc. lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 74.9% during the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares during the period. New Millennium Group LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the third quarter worth about $59,000. Activest Wealth Management boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 78.5% during the third quarter. Activest Wealth Management now owns 6,864 shares of the oil and gas exploration company’s stock valued at $87,000 after purchasing an additional 3,018 shares in the last quarter. Finally, Westfuller Advisors LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at approximately $90,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.1%

Shares of PBR opened at $16.62 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82. The company has a market cap of $107.11 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 0.29 and a beta of 0.49. The stock has a fifty day moving average price of $13.86 and a two-hundred day moving average price of $12.88. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $16.92.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be given a dividend of $0.0658 per share. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 18.52%.

Wall Street Analyst Weigh In

Several research firms recently commented on PBR. UBS Group raised their target price on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group increased their price objective on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.98.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.