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

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.24.

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

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR opened at $13.73 on Wednesday. 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 company has a 50-day moving average of $14.34 and a 200-day moving average of $14.79. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The company has a market capitalization of $89.52 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.21 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, December 27th will be given 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 is Friday, December 27th. This represents a yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 33.59%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% during the second 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. Janney Montgomery Scott LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 48.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock valued at $990,000 after buying an additional 21,352 shares during the last quarter. Diversified Trust Co raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 127.1% during the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock worth $1,987,000 after acquiring an additional 76,752 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 58.2% in the third quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company’s stock valued at $1,623,000 after acquiring an additional 41,447 shares during the last quarter. Finally, Creative Planning increased its position in Petróleo Brasileiro S.A. – Petrobras by 31.6% in the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock worth $2,234,000 after purchasing an additional 37,181 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.