Mitsubishi UFJ Trust & Banking Corp Sells 35,482 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 400,768 shares of the oil and gas exploration company’s stock after selling 35,482 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $6,476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GHP Investment Advisors Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at $26,000. Clearstead Advisors LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter worth about $39,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $51,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PBR. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. cut their price objective on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR opened at $17.89 on Friday. The stock has a fifty day simple moving average of $17.63 and a two-hundred day simple moving average of $18.32. The company has a current ratio of 0.85, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. The company has a market cap of $115.26 billion, a price-to-earnings ratio of 4.52, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $22.24.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be given a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 8.59%.

Petroleo Brasileiro S.A.- Petrobras Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.