Ritholtz Wealth Management Trims Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Ritholtz Wealth Management lowered its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,382 shares of the oil and gas exploration company’s stock after selling 7,492 shares during the quarter. Ritholtz Wealth Management’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $3,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth $206,000. Janney Montgomery Scott LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 48.8% during the first quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock valued at $990,000 after acquiring an additional 21,352 shares during the last quarter. Diversified Trust Co raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 127.1% in the 2nd quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock valued at $1,987,000 after acquiring an additional 76,752 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 22.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 31,750 shares of the oil and gas exploration company’s stock worth $483,000 after acquiring an additional 5,750 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 14.8% during the 4th quarter. Parallel Advisors LLC now owns 19,980 shares of the oil and gas exploration company’s stock worth $319,000 after purchasing an additional 2,571 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group cut their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group decreased their target price on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and cut their target price for the stock from $21.20 to $17.70 in a research note on Wednesday, May 15th. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $20.00 in a report on Monday, August 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

Petróleo Brasileiro S.A. – Petrobras Stock Down 0.3 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $15.23 on Monday. The stock has a 50 day moving average of $14.68 and a two-hundred day moving average of $15.37. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.90 and a twelve month high of $17.91. The stock has a market capitalization of $99.33 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 0.18 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The business had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. As a group, research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be paid a $0.165 dividend. This represents a dividend yield of 15.4%. The ex-dividend date is Friday, August 23rd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 25.00%.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.