UBS Group Trims Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Target Price to $18.10

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price target cut by UBS Group from $19.40 to $18.10 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the oil and gas exploration company’s stock.

A number of other research firms have also weighed in on PBR. The Goldman Sachs Group cut their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a buy rating on the stock in a research report on Tuesday, August 13th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating and upped their price objective for the stock from $16.80 to $17.90 in a research report on Thursday, June 27th. Finally, Jefferies Financial Group lowered Petróleo Brasileiro S.A. – Petrobras from a buy rating to a hold rating and cut their price objective for the stock from $21.20 to $17.70 in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of Moderate Buy and a consensus price target of $17.34.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.9 %

Shares of NYSE PBR opened at $14.86 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.81. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week high of $17.91. The business’s 50 day moving average is $14.49 and its two-hundred day moving average is $15.48.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, August 23rd. This represents a dividend yield of 15.4%. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 26.45%.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

A number of institutional investors and hedge funds have recently modified their holdings of PBR. EverSource Wealth Advisors LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $32,000. Nisa Investment Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $35,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $45,000.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.