B. Riley Wealth Advisors Inc. Raises Position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

B. Riley Wealth Advisors Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 36.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,217 shares of the oil and gas exploration company’s stock after buying an additional 5,104 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $283,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PBR. EverSource Wealth Advisors LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $32,000. Nisa Investment Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $35,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter worth about $45,000.

Petróleo Brasileiro S.A. – Petrobras Stock Down 2.7 %

Shares of PBR opened at $14.91 on Wednesday. The company’s 50-day moving average price is $14.71 and its 200 day moving average price is $15.10. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. The firm has a market cap of $97.24 billion, a P/E ratio of 4.33, a price-to-earnings-growth ratio of 0.23 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $23.47 billion for 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%. On average, sell-side analysts forecast 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 company also recently declared a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a dividend yield of 15.4%. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 25.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price 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. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. UBS Group lowered their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras has an average rating of “Moderate Buy” and a consensus price target of $18.20.

Petróleo Brasileiro S.A. – Petrobras Profile

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.