Avantax Advisory Services Inc. Decreases Holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Avantax Advisory Services Inc. trimmed its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 29.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,311 shares of the oil and gas exploration company’s stock after selling 45,407 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,406,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its position in Petróleo Brasileiro S.A. – Petrobras by 18.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company’s stock worth $24,445,000 after purchasing an additional 265,560 shares during the period. Capital Wealth Planning LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 27.0% in the 4th quarter. Capital Wealth Planning LLC now owns 342,752 shares of the oil and gas exploration company’s stock worth $4,408,000 after purchasing an additional 72,930 shares during the period. RWC Asset Management LLP raised its position in Petróleo Brasileiro S.A. – Petrobras by 9.8% in the 4th quarter. RWC Asset Management LLP now owns 2,142,912 shares of the oil and gas exploration company’s stock worth $27,558,000 after purchasing an additional 190,435 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth about $141,372,000. Finally, Ping Capital Management Inc. raised its position in Petróleo Brasileiro S.A. – Petrobras by 50.7% in the 4th quarter. Ping Capital Management Inc. now owns 80,000 shares of the oil and gas exploration company’s stock worth $1,029,000 after purchasing an additional 26,900 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, March 5th. StockNews.com downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Hsbc Global Res raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE:PBR opened at $13.89 on Wednesday. The firm has a market cap of $89.48 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. The firm’s 50 day simple moving average is $13.75 and its 200-day simple moving average is $13.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.45 and a one year high of $17.44.

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.