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

Ritholtz Wealth Management reduced its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 217,162 shares of the oil and gas exploration company’s stock after selling 21,742 shares during the period. Ritholtz Wealth Management’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $2,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 396.0% in the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,679 shares during the period. Bogart Wealth LLC raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 571.4% in the third quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 2,000 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 65.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 945 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 497.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company’s stock valued at $87,000 after acquiring an additional 5,000 shares during the period. Finally, Activest Wealth Management grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 67.9% during the 3rd quarter. Activest Wealth Management now owns 6,430 shares of the oil and gas exploration company’s stock valued at $93,000 after acquiring an additional 2,600 shares during the period.

Wall Street Analyst Weigh In

PBR has been the topic of several analyst reports. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group boosted their price objective 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR opened at $13.71 on Friday. The business’s 50-day moving average is $13.71 and its 200 day moving average is $14.26. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.55 and a 12 month high of $17.91. The company has a market capitalization of $89.39 billion, a P/E ratio of 5.35, a P/E/G ratio of 0.16 and a beta of 1.41. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a — dividend, which was paid on Friday, January 3rd. Stockholders 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 dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 57.81%.

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.