Ritholtz Wealth Management Has $3.44 Million Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Ritholtz Wealth Management grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,904 shares of the oil and gas exploration company’s stock after purchasing an additional 21,522 shares during the period. Ritholtz Wealth Management’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $3,443,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PBR. Encompass Capital Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $73,174,000. Perpetual Ltd bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter worth $56,337,000. Norden Group LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 3,457.9% in the first quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock valued at $44,403,000 after purchasing an additional 2,837,247 shares in the last quarter. Mondrian Investment Partners LTD lifted its position in Petróleo Brasileiro S.A. – Petrobras by 23.0% during the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after purchasing an additional 1,889,313 shares during the period. Finally, Artemis Investment Management LLP grew its stake in Petróleo Brasileiro S.A. – Petrobras by 27.7% during the first quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock worth $95,452,000 after buying an additional 1,362,108 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.9 %

NYSE PBR opened at $14.74 on Friday. The business’s 50-day moving average price is $14.77 and its two-hundred day moving average price is $15.10. 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 has a 12 month low of $12.90 and a 12 month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $23.47 billion during the quarter, compared to the consensus estimate of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. Sell-side analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.36 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently announced a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, August 23rd. This represents a yield of 15.4%. 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 currently 34.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a report on Tuesday, August 13th. UBS Group reduced 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 report on Monday, August 19th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their price objective for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.20.

About Petróleo Brasileiro S.A. – Petrobras

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.