Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.20.

PBR has been the subject of a number of research reports. UBS Group cut their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. 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 for the company in a research report on Tuesday, August 13th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.80 to $17.90 in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $16.50 to $19.00 in a research report on Wednesday.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 112.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 26,627 shares of the oil and gas exploration company’s stock worth $386,000 after acquiring an additional 14,098 shares during the last quarter. Bluefin Capital Management LLC boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 152.3% in the 2nd quarter. Bluefin Capital Management LLC now owns 26,019 shares of the oil and gas exploration company’s stock valued at $377,000 after purchasing an additional 15,708 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at $1,521,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 1.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 1,430,800 shares of the oil and gas exploration company’s stock worth $20,732,000 after buying an additional 18,800 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 36.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 19,217 shares of the oil and gas exploration company’s stock worth $283,000 after buying an additional 5,104 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.1 %

NYSE PBR opened at $14.58 on Tuesday. The business has a 50 day moving average price of $14.65 and a 200 day moving average price of $15.09. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The business had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. As a group, analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 2.65 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently announced a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 23rd. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 25.00%.

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.