Wealth Alliance Has $324,000 Stock Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Wealth Alliance trimmed its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,258 shares of the oil and gas exploration company’s stock after selling 1,093 shares during the quarter. Wealth Alliance’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% in the 1st quarter. Lazard Asset Management LLC now owns 30,293,524 shares of the oil and gas exploration company’s stock valued at $448,343,000 after purchasing an additional 826,668 shares during the last quarter. RWC Asset Advisors US LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 117.2% in the third quarter. RWC Asset Advisors US LLC now owns 5,666,762 shares of the oil and gas exploration company’s stock valued at $84,945,000 after buying an additional 3,057,798 shares during the period. Artemis Investment Management LLP boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 78.9% in the third quarter. Artemis Investment Management LLP now owns 5,147,860 shares of the oil and gas exploration company’s stock valued at $77,131,000 after acquiring an additional 2,269,946 shares during the last quarter. CI Investments Inc. grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 4.2% during the 3rd quarter. CI Investments Inc. now owns 4,378,375 shares of the oil and gas exploration company’s stock worth $65,632,000 after acquiring an additional 175,038 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter valued at $62,049,000.

Analyst Upgrades and Downgrades

PBR has been the topic of several recent research reports. UBS Group raised their price target on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, March 25th. Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research note on Friday, March 8th. Finally, Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.76.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE PBR opened at $15.58 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.96 and a quick ratio of 0.73. The business has a 50 day simple moving average of $15.99 and a 200 day simple moving average of $15.79. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $10.01 and a 52-week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.15. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. The company had revenue of $27.11 billion during the quarter, compared to analysts’ expectations of $26.45 billion. As a group, analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 3.51 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, April 29th will be paid a $0.2084 dividend. This represents a $0.83 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Friday, April 26th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 9.95%.

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.