205,700 Shares in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Purchased by Point72 Europe London LLP

Point72 Europe London LLP purchased a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 205,700 shares of the oil and gas exploration company’s stock, valued at approximately $2,964,000.

Several other hedge funds have also bought and sold shares of the stock. Centric Wealth Management boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 30.0% during the third quarter. Centric Wealth Management now owns 112,699 shares of the oil and gas exploration company’s stock worth $1,510,000 after buying an additional 26,000 shares in the last quarter. Financial Counselors Inc. raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 54.1% in the third quarter. Financial Counselors Inc. now owns 32,784 shares of the oil and gas exploration company’s stock worth $472,000 after acquiring an additional 11,507 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth about $141,372,000. FORA Capital LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter valued at about $408,000. Finally, Blueshift Asset Management LLC increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 51.3% in the 3rd quarter. Blueshift Asset Management LLC now owns 34,896 shares of the oil and gas exploration company’s stock valued at $503,000 after purchasing an additional 11,825 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have commented on the company. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group increased 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 report on Tuesday, November 12th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. UBS Group dropped their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s 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 Price Performance

Shares of PBR opened at $14.29 on Friday. The stock has a fifty day simple moving average of $14.23 and a two-hundred day simple moving average of $14.55. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week 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. Shareholders of record on Friday, December 13th will be issued 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 35.94%.

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.