Axxcess Wealth Management LLC Sells 1,240 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Axxcess Wealth Management LLC lessened its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,240 shares of the oil and gas exploration company’s stock after selling 1,240 shares during the period. Axxcess Wealth Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $241,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PBR. Financial Gravity Asset Management Inc. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $29,000. Chung Wu Investment Group LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $31,000. Wayfinding Financial LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $34,000. Finally, Redwood Park Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% during the 1st quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company’s stock valued at $53,000 after purchasing an additional 1,810 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on PBR. Wall Street Zen cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Wednesday, October 8th. UBS Group cut their target price on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Finally, Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and a consensus target price of $15.43.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.6%

NYSE:PBR opened at $11.64 on Friday. The firm has a market capitalization of $74.98 billion, a price-to-earnings ratio of 5.44 and a beta of 0.86. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $15.10. The stock’s 50 day moving average price is $12.36 and its two-hundred day moving average price is $12.22. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). The company had revenue of $21.04 billion for the quarter, compared to analyst estimates of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. Equities research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be given a dividend of $0.0739 per share. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 48.13%.

Petroleo Brasileiro S.A.- Petrobras Profile

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.