Fisher Asset Management LLC Grows Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Fisher Asset Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 13.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,819,647 shares of the oil and gas exploration company’s stock after purchasing an additional 1,835,297 shares during the period. Fisher Asset Management LLC owned approximately 0.24% of Petróleo Brasileiro S.A. – Petrobras worth $227,961,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PBR. Toronto Dominion Bank grew its position in Petróleo Brasileiro S.A. – Petrobras by 15.5% during the 1st quarter. Toronto Dominion Bank now owns 7,226 shares of the oil and gas exploration company’s stock worth $110,000 after purchasing an additional 970 shares during the last quarter. SVB Wealth LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $163,000. Ascent Group LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 9.2% during the 1st quarter. Ascent Group LLC now owns 12,841 shares of the oil and gas exploration company’s stock worth $195,000 after purchasing an additional 1,083 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $2,988,000. Finally, National Wealth Management Group LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 17.4% during the 1st quarter. National Wealth Management Group LLC now owns 23,295 shares of the oil and gas exploration company’s stock valued at $354,000 after acquiring an additional 3,448 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR opened at $14.79 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of $14.25 and a 200 day moving average price of $14.59. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.5338 dividend. The ex-dividend date is Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 30.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PBR shares. 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 note on Tuesday, November 12th. Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-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 lifted their price objective for the company from $18.00 to $20.00 in a research note on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.