Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Gap Up to $14.53

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) gapped up before the market opened on Monday . The stock had previously closed at $14.53, but opened at $14.89. Petróleo Brasileiro S.A. – Petrobras shares last traded at $14.91, with a volume of 1,243,149 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on PBR. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. The Goldman Sachs Group decreased their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a report on Tuesday, August 13th. UBS Group decreased their target price 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. Finally, Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.07.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The company’s 50-day simple moving average is $14.74 and its 200-day simple moving average is $15.18. The stock has a market capitalization of $96.59 billion, a price-to-earnings ratio of 4.22, a PEG ratio of 0.17 and a beta of 1.40. 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 (NYSE:PBR) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $23.47 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. On average, analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. This represents a dividend yield of 15.4%. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 25.00%.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several institutional investors have recently added to or reduced their stakes in PBR. Bluefin Capital Management LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 152.3% in the 2nd quarter. Bluefin Capital Management LLC now owns 26,019 shares of the oil and gas exploration company’s stock worth $377,000 after purchasing an additional 15,708 shares during the period. Sanctuary Advisors LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at $1,521,000. Teachers Retirement System of The State of Kentucky boosted its position in Petróleo Brasileiro S.A. – Petrobras by 1.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 1,430,800 shares of the oil and gas exploration company’s stock valued at $20,732,000 after acquiring an additional 18,800 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 36.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 19,217 shares of the oil and gas exploration company’s stock worth $283,000 after acquiring an additional 5,104 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 16.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 55,637 shares of the oil and gas exploration company’s stock worth $806,000 after acquiring an additional 7,749 shares in the last quarter.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.