Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,415 shares of the oil and gas exploration company's stock after selling 25,747 shares during the period. Ritholtz Wealth Management's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $2,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the business. Dodge & Cox lifted its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 4.8% in the 4th quarter. Dodge & Cox now owns 17,300 shares of the oil and gas exploration company's stock valued at $222,000 after purchasing an additional 800 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 5.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 23,536 shares of the oil and gas exploration company's stock worth $303,000 after buying an additional 1,164 shares in the last quarter. Samalin Investment Counsel LLC lifted its holdings in Petróleo Brasileiro S.A. - Petrobras by 9.8% in the fourth quarter. Samalin Investment Counsel LLC now owns 14,194 shares of the oil and gas exploration company's stock valued at $183,000 after acquiring an additional 1,269 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 43,486 shares of the oil and gas exploration company's stock valued at $559,000 after purchasing an additional 1,381 shares during the period. Finally, Vise Technologies Inc. boosted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 5.1% during the 4th quarter. Vise Technologies Inc. now owns 33,916 shares of the oil and gas exploration company's stock worth $436,000 after acquiring an additional 1,633 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PBR. Wall Street Zen raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. HSBC upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Wednesday, March 5th. Hsbc Global Res upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Jefferies Financial Group raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price target for the company in a research report on Thursday, May 15th. Finally, Bank of America lowered shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $17.47.

Petróleo Brasileiro S.A. - Petrobras Stock Up 2.5%

Shares of Petróleo Brasileiro S.A. - Petrobras stock opened at $12.72 on Monday. The business has a 50-day moving average of $11.67 and a 200-day moving average of $12.98. Petróleo Brasileiro S.A. - Petrobras has a 1-year low of $11.03 and a 1-year high of $15.73. The company has a market capitalization of $81.94 billion, a PE ratio of 4.97, a P/E/G ratio of 0.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71.

Petróleo Brasileiro S.A. - Petrobras Increases Dividend

The business also recently declared a -- dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, June 4th will be issued a $0.2806 dividend. The ex-dividend date is Wednesday, June 4th. This is a boost from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. This represents a yield of 17.6%. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio is currently 86.57%.

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 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.

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