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

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

Other research analysts also recently issued reports about the company. The Goldman Sachs Group dropped their price target 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 shares of Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating and increased their price target for the stock from $16.80 to $17.90 in a research report on Thursday, June 27th. Finally, Jefferies Financial Group cut Petróleo Brasileiro S.A. – Petrobras from a buy rating to a hold rating and cut their price objective for the company from $21.20 to $17.70 in a 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $17.34.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.8 %

NYSE:PBR opened at $15.29 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The stock’s 50 day moving average price is $14.47 and its 200 day moving average price is $15.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.81 and a current ratio of 0.90.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently announced a Variable dividend, which will be paid on Friday, November 29th. Shareholders 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 presently 26.45%.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Institutional investors have recently modified their holdings of the business. Artisan Partners Limited Partnership acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $218,758,000. Mondrian Investment Partners LTD lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after buying an additional 1,889,313 shares during the period. RWC Asset Advisors US LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 20.2% during the fourth quarter. RWC Asset Advisors US LLC now owns 6,811,783 shares of the oil and gas exploration company’s stock worth $108,784,000 after buying an additional 1,145,021 shares during the last quarter. Artemis Investment Management LLP grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 27.7% during the 1st quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock worth $95,452,000 after buying an additional 1,362,108 shares during the period. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $73,174,000.

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.