Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Receives Average Rating of “Moderate Buy” from Brokerages

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

Several brokerages have issued reports on PBR. UBS Group dropped their price objective on shares of 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. The Goldman Sachs Group boosted their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $20.00 in a report on Monday, August 26th. JPMorgan Chase & Co. upgraded 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 research report on Wednesday, September 25th. Finally, HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 13.1% in the 3rd quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock valued at $227,961,000 after purchasing an additional 1,835,297 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after acquiring an additional 1,889,313 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at $141,372,000. Encompass Capital Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at about $73,174,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after purchasing an additional 1,039,700 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $13.86 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $14.17 and its 200-day simple moving average is $14.50.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.5338 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 35.94%.

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.