Sumitomo Mitsui Trust Holdings Inc. reduce equity position in Petróleo Brasileiro SA – Petrobras (NYSE:PBR)

VaselineAugust 25, 2024

0 3 minutes read

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Petróleo Brasileiro SA – Petrobras (NYSE:PBR – Free Report) by 70.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,412 shares of the oil and gas exploration company’s stock after selling 31,316 shares during the quarter. Shares held by Sumitomo Mitsui Trust Holdings Inc. in Petróleo Brasileiro SA – Petrobras were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have recently added to or reduced their stakes in PBR. EverSource Wealth Advisors LLC lifted its position in Petróleo Brasileiro SA – Petrobras by 460.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 1,468 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Petróleo Brasileiro SA – Petrobras in the 4th quarter worth approximately $54,000. SYSTM Wealth Solutions LLC boosted its holdings in shares of Petróleo Brasileiro SA – Petrobras by 210.6% in the first quarter. SYSTM Wealth Solutions LLC now owns 3,998 shares of the oil and gas exploration company’s stock worth $61,000 after buying an additional 2,711 shares during the period. Founders Capital Management boosted its holdings in shares of Petróleo Brasileiro SA – Petrobras by 17.5% in the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 700 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in shares of Petróleo Brasileiro SA – Petrobras by 101.7% in the first quarter. Sound Income Strategies LLC now owns 5,643 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 2,845 shares during the period.

Petróleo Brasileiro SA – Petrobras price performance

Shares of PBR stock opened at $14.40 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67, and a current ratio of 0.90. Petróleo Brasileiro SA – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91. The firm has a market cap of $93.92 billion, a P/E ratio of 4.19, a price-to-earnings-growth ratio of 0.18 and a beta of 1.41. The stock has a 50-day simple moving average of $14.52 and a 200-day simple moving average of $15.45.

Petróleo Brasileiro SA – Petrobras increases dividends

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The firm also recently disclosed a variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.165 per share. This represents a yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23. This is a positive change from Petróleo Brasileiro SA – Petrobras’ previous variable dividend of $0.03. Petróleo Brasileiro SA – Petrobras’ dividend payout ratio (DPR) is 25.00%.

Analysts set new price targets

A number of research firms have recently commented on PBR. UBS Group reduced their price objective on Petróleo Brasileiro SA – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. Goldman Sachs Group cut their price objective on Petroleo Brasileiro SA – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Petróleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $21.20 to $17.70 in a report on Wednesday , May 15. Finally, Bank of America upgraded Petróleo Brasileiro SA – Petrobras from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.80 to $17.90 in a research note on Thursday, June 27. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.34.

Check out our latest PBR review

About Petróleo Brasileiro SA – Petrobras

(Free report)

Petróleo Brasileiro SA – Petrobras explores, produces and sells oil and gas in Brazil and internationally. The Company operates through Exploration and Production; Refining, Transport and Marketing; and Gas and Power. It also engages in the prospecting, drilling, refining, processing, marketing and transportation of crude oil from the production of onshore and offshore oil fields and shale or other rocks, as well as petroleum products, natural gas and other liquid hydrocarbons.