Moran Wealth Management LLC Sells 20,462 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Moran Wealth Management LLC reduced its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 392,808 shares of the oil and gas exploration company’s stock after selling 20,462 shares during the quarter. Moran Wealth Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $5,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sonora Investment Management Group LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 6.2% in the fourth quarter. Sonora Investment Management Group LLC now owns 17,070 shares of the oil and gas exploration company’s stock worth $220,000 after purchasing an additional 1,000 shares during the period. Ascent Group LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 8.2% in the third quarter. Ascent Group LLC now owns 13,722 shares of the oil and gas exploration company’s stock worth $198,000 after purchasing an additional 1,044 shares during the period. Principal Financial Group Inc. lifted its position in 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 worth $559,000 after purchasing an additional 1,381 shares during the period. OneDigital Investment Advisors LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 12.6% in the third quarter. OneDigital Investment Advisors LLC now owns 12,549 shares of the oil and gas exploration company’s stock worth $181,000 after purchasing an additional 1,407 shares during the period. Finally, Altman Advisors Inc. lifted its position in Petróleo Brasileiro S.A. – Petrobras by 1.4% in the third quarter. Altman Advisors Inc. now owns 119,238 shares of the oil and gas exploration company’s stock worth $1,718,000 after purchasing an additional 1,625 shares during the period.

Analysts Set New Price Targets

Several research analysts have issued reports on PBR shares. StockNews.com lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Hsbc Global Res upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group increased their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE:PBR opened at $12.78 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.55 and a twelve month high of $17.44. The firm has a market cap of $82.33 billion, a PE ratio of 4.99, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. The business has a fifty day moving average of $13.74 and a 200-day moving average of $14.06.

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.