Ritholtz Wealth Management Sells 5,650 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Ritholtz Wealth Management cut its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 3.0% during the 2nd quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. GQG Partners LLC increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 8.0% during the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company’s stock worth $3,672,458,000 after purchasing an additional 18,862,848 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at approximately $148,086,000. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.3% in the first quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company’s stock valued at $158,258,000 after acquiring an additional 38,312 shares during the last quarter. Carrhae Capital LLP bought a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $64,765,000. Finally, Artemis Investment Management LLP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 30.2% in the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company’s stock valued at $56,052,000 after acquiring an additional 905,800 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $11.57 on Friday. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The firm has a market capitalization of $74.56 billion, a P/E ratio of 5.41 and a beta of 0.86. 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 issued its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. The company had revenue of $21.04 billion during the quarter, compared to analyst estimates of $20.78 billion. On average, equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Analyst Ratings Changes

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

About Petroleo Brasileiro S.A.- Petrobras

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.