Brokerages Set Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target at $18.24

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.24.

Several equities analysts have issued reports on PBR shares. The Goldman Sachs Group upped their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several institutional investors have recently made changes to their positions in PBR. MAS Advisors LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 5.0% in the second quarter. MAS Advisors LLC now owns 15,108 shares of the oil and gas exploration company’s stock worth $219,000 after buying an additional 720 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 65.4% in the third quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 945 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 15.5% during the 1st quarter. Toronto Dominion Bank now owns 7,226 shares of the oil and gas exploration company’s stock valued at $110,000 after buying an additional 970 shares in the last quarter. Ascent Group LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 8.2% in the 3rd quarter. Ascent Group LLC now owns 13,722 shares of the oil and gas exploration company’s stock valued at $198,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Aprio Wealth Management LLC boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 7.2% during the second quarter. Aprio Wealth Management LLC now owns 16,668 shares of the oil and gas exploration company’s stock worth $242,000 after buying an additional 1,115 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.9 %

Shares of NYSE:PBR opened at $14.11 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91. The stock’s fifty day moving average price is $14.26 and its 200-day moving average price is $14.70.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be paid a $0.227 dividend. 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. This represents a dividend yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 33.59%.

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.