Brokerages Set Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Price Target at $19.28

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $19.28.

Several equities analysts have recently weighed in on PBR shares. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. JPMorgan Chase & Co. dropped their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th.

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Annex Advisory Services LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 2.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,182,965 shares of the oil and gas exploration company’s stock valued at $35,277,000 after acquiring an additional 50,612 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $149,000. Arista Wealth Management LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $323,000. Western Wealth Management LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $176,000. Finally, Wealth High Governance Capital Ltda purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $1,453,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 1.2%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $18.18 on Thursday. The firm has a market capitalization of $117.19 billion, a PE ratio of 5.90, a P/E/G ratio of 0.79 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The firm’s 50-day moving average price is $17.98 and its 200 day moving average price is $17.55. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The company had revenue of $23.54 billion for the quarter. On average, sell-side analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, June 3rd will be given a $0.1426 dividend. The ex-dividend date is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 11.04%.

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.