Channing Global Advisors LLC Sells 15,831 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Channing Global Advisors LLC trimmed its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 44.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,793 shares of the oil and gas exploration company’s stock after selling 15,831 shares during the period. Channing Global Advisors LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBR. Sound Income Strategies LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at about $45,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $85,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $106,000. Channel Wealth LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $153,000. Finally, Payden & Rygel Investment Group bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $153,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PBR. UBS Group boosted their target price on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research note on Monday, March 25th. Morgan Stanley downgraded Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Monday, March 25th. Finally, Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Friday, March 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE:PBR traded up $0.41 during trading on Friday, hitting $17.04. 5,835,709 shares of the company were exchanged, compared to its average volume of 19,413,225. The stock has a 50 day moving average of $15.96 and a 200 day moving average of $15.88. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $10.01 and a 52-week high of $17.91. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.15. The firm had revenue of $27.11 billion for the quarter, compared to the consensus estimate of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. On average, equities research analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.51 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, April 29th will be issued a $0.2084 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.83 annualized dividend and a dividend yield of 4.89%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 12.83%.

Petróleo Brasileiro S.A. – Petrobras Profile

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.