Cullen Capital Management LLC Increases Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Cullen Capital Management LLC boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRFree Report) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,478 shares of the oil and gas exploration company’s stock after acquiring an additional 49,118 shares during the period. Cullen Capital Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $9,398,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PBR. Avantax Advisory Services Inc. raised its stake in Petróleo Brasileiro S.A. – Petrobras by 113.1% during the 3rd quarter. Avantax Advisory Services Inc. now owns 28,742 shares of the oil and gas exploration company’s stock worth $431,000 after acquiring an additional 15,257 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in Petróleo Brasileiro S.A. – Petrobras by 143.5% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 29,585 shares of the oil and gas exploration company’s stock worth $443,000 after acquiring an additional 17,436 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $686,000. HighTower Advisors LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 21.1% during the 3rd quarter. HighTower Advisors LLC now owns 44,666 shares of the oil and gas exploration company’s stock worth $666,000 after acquiring an additional 7,770 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth $278,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PBR shares. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, March 25th. Morgan Stanley downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $18.00 in a report on Monday, March 11th. UBS Group boosted their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a report on Monday, March 25th. Bank of America downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Friday, March 8th. Finally, Jefferies Financial Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their price target for the company from $21.20 to $17.70 in a report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.33.

Check Out Our Latest Stock Report on PBR

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $14.60 on Tuesday. The firm has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.81. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $13.02 and a 1-year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Free Report) last issued its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. The company had revenue of $23.77 billion for the quarter, compared to analyst estimates of $24.63 billion. During the same period last year, the company posted $1.11 EPS. On average, equities research analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.54 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, June 13th will be given a dividend of $0.0288 per share. This represents a yield of 16%. The ex-dividend date is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 24.42%.

About Petróleo Brasileiro S.A. – Petrobras

(Free Report)

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

Further Reading

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Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

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