Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lifted its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 36.2% in the second quarter, HoldingsChannel reports. The firm owned 19,217 shares of the oil and gas exploration company’s stock after buying an additional 5,104 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $283,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cullen Capital Management LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 9.1% in the fourth quarter. Cullen Capital Management LLC now owns 588,478 shares of the oil and gas exploration company’s stock worth $9,398,000 after acquiring an additional 49,118 shares in the last quarter. Barometer Capital Management Inc. acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth $121,000. Breakout Capital Partners LP purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth about $18,728,000. SageView Advisory Group LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at about $706,000. Finally, MONECO Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $1,586,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $14.91 on Wednesday. The stock’s 50-day moving average is $14.71 and its two-hundred day moving average is $15.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91. The firm has a market cap of $97.24 billion, a price-to-earnings ratio of 4.33, a PEG ratio of 0.23 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The firm had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. Analysts predict 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. Stockholders of record on Friday, August 23rd will be issued a $0.165 dividend. This represents a dividend yield of 15.4%. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 25.00%.

Analyst Upgrades and Downgrades

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