176,370 Shares in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Bought by DRW Securities LLC

DRW Securities LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 176,370 shares of the oil and gas exploration company’s stock, valued at approximately $2,541,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its position in Petróleo Brasileiro S.A. – Petrobras by 58.2% during the 3rd quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company’s stock worth $1,623,000 after acquiring an additional 41,447 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% in the second quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock valued at $20,809,000 after purchasing an additional 39,682 shares during the period. Diversified Trust Co boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 127.1% in the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock valued at $1,987,000 after purchasing an additional 76,752 shares during the period. Creative Planning grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 31.6% during the 3rd quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock valued at $2,234,000 after purchasing an additional 37,181 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth $1,521,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $14.90 on Monday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average is $14.25 and its two-hundred day moving average is $14.61.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be given a $0.227 dividend. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date is Friday, December 27th. This represents a yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 30.08%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PBR shares. UBS Group lowered their target price on 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. 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 research note on Tuesday, November 12th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Finally, Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.24.

About Petróleo Brasileiro S.A. – Petrobras

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.