Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Receives $18.24 Average Price Target from Brokerages

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.24.

A number of research analysts recently weighed in on PBR shares. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Hsbc Global Res cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBR. Fisher Asset Management LLC increased its stake 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 buying an additional 1,835,297 shares during the last quarter. Mondrian Investment Partners LTD increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% during the second 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 acquiring an additional 1,889,313 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the third quarter worth $141,372,000. Encompass Capital Advisors LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth $73,174,000. Finally, Victory Capital Management Inc. grew its stake in Petróleo Brasileiro S.A. – Petrobras by 38.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after purchasing an additional 1,039,700 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.7 %

PBR opened at $13.40 on Thursday. The company has a market cap of $87.40 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.22 and a beta of 1.41. The company has a fifty day moving average price of $13.68 and a two-hundred day moving average price of $14.29. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.55 and a 1-year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a — dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a $0.5338 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 57.81%.

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.