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

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 sent to investors on Monday morning, Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.80 to $17.90 in a report on Thursday, June 27th. HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday. UBS Group dropped 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 report on Monday, August 19th. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group decreased their target price on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $13.74 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. The stock has a 50 day moving average price of $14.77 and a 200-day moving average price of $15.04. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91.

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 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The firm had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Equities analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 2.4 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 23rd. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 34.68%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. MAS Advisors LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 5.0% in the 2nd quarter. MAS Advisors LLC now owns 15,108 shares of the oil and gas exploration company’s stock worth $219,000 after acquiring an additional 720 shares in the last quarter. Whittier Trust Co. increased its position in Petróleo Brasileiro S.A. – Petrobras by 1.7% during the 1st quarter. Whittier Trust Co. now owns 43,569 shares of the oil and gas exploration company’s stock valued at $663,000 after buying an additional 725 shares in the last quarter. Financial Security Advisor Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 5.2% during the 1st quarter. Financial Security Advisor Inc. now owns 17,590 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 865 shares in the last quarter. Toronto Dominion Bank increased its position in 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. Finally, Ascent Group LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 9.2% during the 1st quarter. Ascent Group LLC now owns 12,841 shares of the oil and gas exploration company’s stock valued at $195,000 after buying an additional 1,083 shares in the last quarter.

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.