Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC increased its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Get Rating) by 68.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,900 shares of the oil and gas exploration company’s stock after acquiring an additional 8,900 shares during the period. Perigon Wealth Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $270,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Petróleo Brasileiro S.A. – Petrobras by 83.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,169 shares during the period. Huntington National Bank increased its stake in Petróleo Brasileiro S.A. – Petrobras by 56.0% during the 3rd quarter. Huntington National Bank now owns 3,231 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 1,160 shares during the period. Federated Hermes Inc. increased its stake in Petróleo Brasileiro S.A. – Petrobras by 34.3% during the 1st quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock valued at $50,000 after buying an additional 861 shares during the period. CoreCap Advisors LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $40,000. Finally, Heritage Wealth Management LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 12.29% of the company’s stock.

Wall Street Analyst Weigh In

PBR has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Petróleo Brasileiro S.A. – Petrobras in a research note on Thursday. They set a “buy” rating on the stock. The Goldman Sachs Group reduced their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $13.60 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, December 21st. Bradesco Corretora lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 13th. Finally, UBS Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “sell” rating in a research report on Monday, November 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Hold” and a consensus price target of $14.00.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR opened at $9.99 on Friday. Petróleo Brasileiro S.A. – Petrobras has a one year low of $8.88 and a one year high of $16.32. The company has a 50-day moving average of $11.13 and a two-hundred day moving average of $11.86. The stock has a market cap of $65.16 billion, a price-to-earnings ratio of 1.78, a PEG ratio of 1.40 and a beta of 1.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.72.

About Petróleo Brasileiro S.A. – Petrobras

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Petróleo Brasileiro SA engages in oil and gas exploration, production, and distribution activities. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Gas and Power; and Corporate and Other Business. The Exploration and Production segment involves crude oil, natural gas liquids, and natural gas exploration, development, and production.