Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Has Consensus Target Price of $20.97 According to Brokerages

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.97.

A number of research firms recently issued reports on PBR. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Finally, UBS Group raised their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.7%

PBR opened at $22.06 on Friday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $26.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The stock has a market capitalization of $142.16 billion, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 1.96 and a beta of 0.29. The business’s 50-day simple moving average is $21.98 and its 200-day simple moving average is $19.04.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be given a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 10.61%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

A number of large investors have recently bought and sold shares of PBR. Artemis Investment Management LLP lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 4.2% in the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock worth $138,640,000 after acquiring an additional 270,422 shares during the period. Oaktree Capital Management LP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $126,355,000. Carrhae Capital LLP acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $87,456,000. RWC Asset Advisors US LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 17.7% during the third quarter. RWC Asset Advisors US LLC now owns 4,409,205 shares of the oil and gas exploration company’s stock worth $92,020,000 after acquiring an additional 662,712 shares during the period. Finally, DJE Kapital AG acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $65,428,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.