Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Downgraded by HSBC

HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat Ratings reports.

A number of other brokerages also recently weighed in on PBR. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. UBS Group cut their target price 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. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. Finally, The Goldman Sachs Group cut their price objective 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 issued a buy rating to the stock. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of NYSE:PBR opened at $13.74 on Monday. The company’s 50-day moving average price is $14.77 and its two-hundred day moving average price is $15.04. 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 0.70, a current ratio of 0.90 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $23.47 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. Research analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 2.4 earnings per share 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. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, August 23rd. This represents a dividend yield of 15.4%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is 34.68%.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Institutional investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $73,174,000. Norden Group LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 3,457.9% in the 1st quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock worth $44,403,000 after purchasing an additional 2,837,247 shares in the last quarter. Mondrian Investment Partners LTD boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after purchasing an additional 1,889,313 shares during the period. Artemis Investment Management LLP grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 27.7% during the 1st quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock worth $95,452,000 after purchasing an additional 1,362,108 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% during the second 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 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.