Brokerages Set Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Target Price at $17.63

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.63.

Several research analysts recently commented on PBR shares. Jefferies Financial Group cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.20 to $17.70 in a research report on Wednesday, May 15th. UBS Group dropped their price objective on 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. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $16.80 to $17.90 in a report on Thursday, June 27th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. Finally, The Goldman Sachs Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a report on Tuesday, August 13th.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $15.23 on Friday. The firm has a fifty day moving average price of $14.68 and a two-hundred day moving average price of $15.38. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. The company has a market cap of $99.33 billion, a PE ratio of 4.43, a price-to-earnings-growth ratio of 0.18 and a beta of 1.41.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The business had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

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

Large investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 1.3% during the second 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 acquiring an additional 18,800 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 36.2% during 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 purchasing an additional 5,104 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 16.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 55,637 shares of the oil and gas exploration company’s stock worth $806,000 after purchasing an additional 7,749 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 48.6% in the 2nd quarter. Kathmere Capital Management LLC now owns 26,407 shares of the oil and gas exploration company’s stock valued at $383,000 after purchasing an additional 8,641 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock valued at $20,809,000 after purchasing an additional 39,682 shares during the last quarter.

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 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.