Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target Raised to $17.00

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price target upped by The Goldman Sachs Group from $15.40 to $17.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Other equities analysts have also issued reports about the stock. Hsbc Global Res lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. UBS Group dropped 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 report on Monday, August 19th. Finally, 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 research note on Monday, August 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.24.

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

NYSE PBR opened at $14.12 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.67 and a current ratio of 0.94. The company has a market capitalization of $92.09 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 0.21 and a beta of 1.39. The company’s 50-day simple moving average is $14.26 and its two-hundred day simple moving average is $14.73.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.227 per share. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date of this dividend is Friday, December 27th. This represents a dividend yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 38.67%.

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

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 48.8% during the 1st 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 period. Envestnet Portfolio Solutions Inc. purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the first quarter valued at approximately $298,000. Avantax Advisory Services Inc. lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 31.5% in the first quarter. Avantax Advisory Services Inc. now owns 41,266 shares of the oil and gas exploration company’s stock valued at $628,000 after acquiring an additional 9,874 shares during the period. Kingsview Wealth Management LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter worth approximately $166,000. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $1,318,000.

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.