Ritholtz Wealth Management Has $2.32 Million Stock Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Ritholtz Wealth Management trimmed its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,765 shares of the oil and gas exploration company’s stock after selling 5,650 shares during the period. Ritholtz Wealth Management’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,324,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TrueMark Investments LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $2,678,000. Salem Investment Counselors Inc. boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 564,661 shares of the oil and gas exploration company’s stock worth $7,065,000 after buying an additional 43,750 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $29,984,000. Banco Santander S.A. lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 15.2% in the 1st quarter. Banco Santander S.A. now owns 155,244 shares of the oil and gas exploration company’s stock valued at $2,226,000 after purchasing an additional 20,462 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at about $148,086,000.

Analyst Ratings Changes

Several brokerages recently issued reports on PBR. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Wednesday, October 8th. UBS Group cut their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a research note on Friday, August 22nd. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.43.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.6%

Petroleo Brasileiro S.A.- Petrobras stock opened at $11.57 on Friday. The stock has a market cap of $74.56 billion, a P/E ratio of 5.41 and a beta of 0.86. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.10. The company’s 50-day moving average price is $12.37 and its two-hundred day moving average price is $12.25.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). The company had revenue of $21.04 billion during the quarter, compared to the consensus estimate of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. As a group, analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be issued a $0.0739 dividend. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 48.13%.

Petroleo 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.