Wealth Alliance Has $309,000 Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Wealth Alliance trimmed its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,300 shares of the oil and gas exploration company’s stock after selling 2,002 shares during the quarter. Wealth Alliance’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PBR. Avantax Advisory Services Inc. lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 9.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 31,392 shares of the oil and gas exploration company’s stock worth $501,000 after buying an additional 2,650 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 16.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,892 shares of the oil and gas exploration company’s stock valued at $222,000 after purchasing an additional 1,979 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $365,000. Assetmark Inc. increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 7.6% during the 4th quarter. Assetmark Inc. now owns 532,179 shares of the oil and gas exploration company’s stock worth $8,499,000 after purchasing an additional 37,724 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $706,000.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.65 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $15.14. 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 announced its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $23.47 billion during the quarter, compared to analyst estimates 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 predict that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.165 per share. This represents a dividend yield of 15.4%. The ex-dividend date is Friday, August 23rd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 25.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. The Goldman Sachs Group decreased their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Finally, Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

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.