Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Price Target Raised to $15.00

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) had its target price increased by The Goldman Sachs Group from $13.10 to $15.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other research analysts have also recently commented on PBR. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Finally, UBS Group upped their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Moderate Buy” and a consensus price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.4%

PBR stock opened at $15.19 on Wednesday. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $16.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82. The company’s 50-day simple moving average is $13.07 and its 200 day simple moving average is $12.65. The company has a market capitalization of $97.86 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.31 and a beta of 0.49.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, December 26th will be issued a dividend of $0.0658 per share. The ex-dividend date of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 21.76%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 55.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 11,680 shares in the last quarter. Focus Partners Wealth boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock worth $296,000 after buying an additional 1,356 shares in the last quarter. Truist Financial Corp raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 83.3% during the second quarter. Truist Financial Corp now owns 33,213 shares of the oil and gas exploration company’s stock worth $415,000 after acquiring an additional 15,094 shares in the last quarter. MGO One Seven LLC raised its position in Petroleo Brasileiro S.A.- Petrobras by 8.6% in the 2nd quarter. MGO One Seven LLC now owns 55,625 shares of the oil and gas exploration company’s stock worth $696,000 after purchasing an additional 4,383 shares during the period. Finally, Moran Wealth Management LLC grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.0% in the second quarter. Moran Wealth Management LLC now owns 438,047 shares of the oil and gas exploration company’s stock worth $5,480,000 after purchasing an additional 32,485 shares during the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.