Edgestream Partners L.P. cut its holdings in PETROLEO BRASIL/ADR (NYSE:PBR) by 5.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 338,924 shares of the oil and gas exploration company’s stock after selling 17,935 shares during the period. Edgestream Partners L.P.’s holdings in PETROLEO BRASIL/ADR were worth $4,091,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PBR. LPL Financial LLC lifted its position in PETROLEO BRASIL/ADR by 34.6% in the 1st quarter. LPL Financial LLC now owns 27,693 shares of the oil and gas exploration company’s stock valued at $392,000 after acquiring an additional 7,124 shares in the last quarter. Atria Investments LLC lifted its position in PETROLEO BRASIL/ADR by 23.1% in the 2nd quarter. Atria Investments LLC now owns 24,998 shares of the oil and gas exploration company’s stock valued at $251,000 after acquiring an additional 4,687 shares in the last quarter. Brave Asset Management Inc. bought a new position in PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $102,000. Bank Hapoalim BM bought a new position in PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $158,000. Finally, Acadian Asset Management LLC bought a new position in PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $986,000. 6.58% of the stock is currently owned by institutional investors and hedge funds.

PBR has been the topic of several analyst reports. Zacks Investment Research raised PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, July 25th. Societe Generale upped their price objective on PETROLEO BRASIL/ADR from $11.00 to $13.50 and gave the company a “hold” rating in a research report on Wednesday, August 8th. ValuEngine cut PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a research report on Monday, August 20th. Credit Suisse Group set a $15.00 target price on shares of PETROLEO BRASIL/ADR and gave the company a “hold” rating in a research note on Thursday, September 6th. Finally, JPMorgan Chase & Co. upgraded shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $17.00 in a research note on Monday, October 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.10.

Shares of PBR opened at $13.90 on Wednesday. The firm has a market cap of $97.44 billion, a price-to-earnings ratio of 19.86 and a beta of 1.53. The company has a quick ratio of 1.18, a current ratio of 1.60 and a debt-to-equity ratio of 1.14. PETROLEO BRASIL/ADR has a 1-year low of $9.02 and a 1-year high of $17.20.

The business also recently announced an annual dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a yield of 0.27%. PETROLEO BRASIL/ADR’s dividend payout ratio is presently 5.71%.

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PETROLEO BRASIL/ADR Company Profile

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

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Institutional Ownership by Quarter for PETROLEO BRASIL/ADR (NYSE:PBR)

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