Hsbc Global Res Lowers Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Hold

Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a strong-buy rating to a hold rating in a research report report published on Monday, Zacks.com reports.

A number of other research firms have also commented on PBR. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.80 to $17.90 in a research note on Thursday, June 27th. The Goldman Sachs Group lowered their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, UBS Group lowered their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Trading Down 1.7 %

Shares of NYSE PBR opened at $13.65 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91. The business’s 50 day moving average is $14.77 and its 200-day moving average is $15.04.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. Analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.4 EPS 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. Stockholders of record on Friday, August 23rd will be paid a $0.165 dividend. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. This represents a dividend yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 34.68%.

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

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock valued at $27,000 after acquiring an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at $30,000. ORG Partners LLC boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% during the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,679 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth about $32,000. Finally, Bogart Wealth LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 571.4% during the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 2,000 shares during the period.

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 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.