Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $18.35.

Several brokerages have recently issued reports on PBR. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.70 to $24.80 in a report on Friday, April 17th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their price target for the company from $20.30 to $19.00 in a report on Friday, March 13th. Finally, The Goldman Sachs Group increased their price target on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several hedge funds and other institutional investors have recently bought and sold shares of PBR. Mondrian Investment Partners LTD purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at $140,433,000. Capital International Investors increased its stake in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after purchasing an additional 10,425,563 shares during the period. Oaktree Capital Management LP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $126,355,000. DJE Kapital AG purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $65,428,000. Finally, ICICI Prudential Asset Management Co Ltd purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the third quarter worth $35,144,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.4%

Shares of PBR opened at $19.42 on Wednesday. The stock has a market capitalization of $125.15 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 0.79 and a beta of 0.38. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24. The business’s 50 day simple moving average is $20.48 and its 200-day simple moving average is $16.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. The business had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%. As a group, equities analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.1426 per share. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 10.71%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.