Cullen Capital Management LLC Has $21.47 Million Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Cullen Capital Management LLC reduced its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 33.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,669,761 shares of the oil and gas exploration company’s stock after selling 831,871 shares during the period. Cullen Capital Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $21,473,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GQG Partners LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 2.6% in the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock worth $3,050,855,000 after acquiring an additional 6,016,560 shares in the last quarter. Annex Advisory Services LLC increased its stake in Petróleo Brasileiro S.A. – Petrobras by 56.1% during the 4th quarter. Annex Advisory Services LLC now owns 1,508,806 shares of the oil and gas exploration company’s stock valued at $19,403,000 after purchasing an additional 542,118 shares in the last quarter. SG Americas Securities LLC raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 114.4% during the fourth quarter. SG Americas Securities LLC now owns 579,270 shares of the oil and gas exploration company’s stock worth $7,449,000 after buying an additional 309,112 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 18.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company’s stock valued at $24,445,000 after buying an additional 265,560 shares in the last quarter. Finally, Truffle Hound Capital LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $2,572,000.

Petróleo Brasileiro S.A. – Petrobras Stock Down 7.0 %

Shares of NYSE:PBR opened at $13.03 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.45 and a 1 year high of $17.44. The company has a market capitalization of $83.97 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 0.18 and a beta of 0.94. The business has a fifty day moving average price of $13.88 and a two-hundred day moving average price of $13.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.2403 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a yield of 19%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 138.79%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, March 5th. Finally, StockNews.com cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.81.

Petróleo Brasileiro S.A. – Petrobras Company 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.