Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Position Reduced by Wealth Alliance

Wealth Alliance reduced its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 52.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,958 shares of the oil and gas exploration company’s stock after selling 13,354 shares during the period. Wealth Alliance’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $154,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PBR. Bogart Wealth LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 571.4% during the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 2,000 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 65.4% in the third quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 945 shares during the period. Tandem Financial LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth $39,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the fourth quarter valued at $51,000. Finally, Sunbelt Securities Inc. raised its position in Petróleo Brasileiro S.A. – Petrobras by 497.5% during the third quarter. Sunbelt Securities Inc. now owns 6,005 shares of the oil and gas exploration company’s stock valued at $87,000 after buying an additional 5,000 shares during the period.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR opened at $14.79 on Friday. The stock has a fifty day moving average price of $13.65 and a 200 day moving average price of $14.16. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.55 and a 1 year high of $17.91. The stock has a market cap of $95.28 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.18 and a beta of 1.40.

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.