Ritholtz Wealth Management Has $2.79 Million Stock Position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Ritholtz Wealth Management lessened its position in Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,162 shares of the oil and gas exploration company's stock after selling 21,742 shares during the quarter. Ritholtz Wealth Management's holdings in Petróleo Brasileiro S.A. - Petrobras were worth $2,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. increased its position in Petróleo Brasileiro S.A. - Petrobras by 58.2% during the third quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company's stock worth $1,623,000 after acquiring an additional 41,447 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Petróleo Brasileiro S.A. - Petrobras by 18.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company's stock valued at $24,445,000 after buying an additional 265,560 shares during the period. Mackenzie Financial Corp grew its position in Petróleo Brasileiro S.A. - Petrobras by 2.8% during the second quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company's stock worth $20,809,000 after buying an additional 39,682 shares in the last quarter. Creative Planning increased its stake in Petróleo Brasileiro S.A. - Petrobras by 31.6% during the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company's stock valued at $2,234,000 after acquiring an additional 37,181 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Petróleo Brasileiro S.A. - Petrobras in the 3rd quarter valued at approximately $141,372,000.

Petróleo Brasileiro S.A. - Petrobras Price Performance

Petróleo Brasileiro S.A. - Petrobras stock traded down $0.08 during midday trading on Friday, hitting $13.71. 9,978,850 shares of the stock were exchanged, compared to its average volume of 11,723,927. Petróleo Brasileiro S.A. - Petrobras has a 52 week low of $12.55 and a 52 week high of $17.91. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $13.71 and a two-hundred day simple moving average of $14.25.

Petróleo Brasileiro S.A. - Petrobras Cuts Dividend

The company also recently declared a -- dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were given a dividend of $0.5338 per share. The ex-dividend date was Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio is 58.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. - Petrobras from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. The Goldman Sachs Group raised their price objective on shares of Petróleo Brasileiro S.A. - Petrobras from $15.40 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. HSBC lowered shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a research report on Monday, October 21st. Finally, Hsbc Global Res cut shares of Petróleo Brasileiro S.A. - Petrobras from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. - Petrobras presently has an average rating of "Moderate Buy" and a consensus price target of $18.24.

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.