Salem Investment Counselors Inc. Grows Stock Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Salem Investment Counselors Inc. boosted its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 426,746 shares of the oil and gas exploration company’s stock after buying an additional 10,435 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $5,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 151,632 shares of the oil and gas exploration company’s stock worth $2,197,000 after acquiring an additional 10,355 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at $30,000. Choreo LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at $198,000. Retirement Planning Co of New England Inc. boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 6.5% during the second quarter. Retirement Planning Co of New England Inc. now owns 23,023 shares of the oil and gas exploration company’s stock valued at $334,000 after buying an additional 1,410 shares during the period. Finally, Poehling Capital Management INC. boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 8.0% during the second quarter. Poehling Capital Management INC. now owns 173,665 shares of the oil and gas exploration company’s stock valued at $2,516,000 after buying an additional 12,799 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.4 %

NYSE:PBR traded up $0.06 during mid-day trading on Monday, reaching $13.54. 5,298,816 shares of the company’s stock traded hands, compared to its average volume of 12,100,034. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.55 and a 12-month high of $17.91. The firm has a market capitalization of $88.31 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 0.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The company has a 50 day moving average price of $13.68 and a 200-day moving average price of $14.28.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a dividend of $0.5338 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 57.81%.

Analysts Set New Price Targets

PBR has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price target for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras has an average rating of “Moderate Buy” and a consensus target price of $18.24.

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 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.