Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.07.

PBR has been the subject of several research reports. The Goldman Sachs Group dropped 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 research note on Tuesday, August 13th. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. Finally, UBS Group decreased 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake 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 last quarter. Diversified Trust Co boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 127.1% in the 2nd quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock valued at $1,987,000 after buying an additional 76,752 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 22.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 31,750 shares of the oil and gas exploration company’s stock valued at $483,000 after buying an additional 5,750 shares during the last quarter. Parallel Advisors LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 14.8% during the 4th quarter. Parallel Advisors LLC now owns 19,980 shares of the oil and gas exploration company’s stock worth $319,000 after acquiring an additional 2,571 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at $2,988,000.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.58 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The business has a 50-day moving average of $14.68 and a 200 day moving average of $15.09. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data 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 net margin of 16.17% and a return on equity of 28.42%. The firm had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Equities analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently declared a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.165 per share. This represents a yield of 15.4%. This is an increase 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 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.