Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Given New $17.00 Price Target at The Goldman Sachs Group

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price objective increased by The Goldman Sachs Group from $15.40 to $17.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities analysts have also weighed in on the company. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group reduced 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 note on Monday, August 19th. Finally, Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $18.00 to $20.00 in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock opened at $13.73 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91. The company’s 50-day moving average is $14.34 and its 200-day moving average is $14.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, December 27th will be issued a $0.227 dividend. This represents a dividend yield of 16.3%. The ex-dividend date is Friday, December 27th. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 33.59%.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several hedge funds have recently made changes to their positions in PBR. Janney Montgomery Scott LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 48.8% during the first quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock worth $990,000 after purchasing an additional 21,352 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter worth $298,000. Avantax Advisory Services Inc. raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 31.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 41,266 shares of the oil and gas exploration company’s stock valued at $628,000 after purchasing an additional 9,874 shares during the period. Kingsview Wealth Management LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth about $166,000. Finally, Banco BTG Pactual S.A. bought a new position in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter worth about $1,318,000.

Petróleo Brasileiro S.A. – Petrobras Company 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.