Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a buy rating to a strong-buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on PBR. UBS Group upped their price objective on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. 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. JPMorgan Chase & Co. lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Down 4.1%

Shares of NYSE PBR opened at $21.14 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $26.39. The stock’s fifty day simple moving average is $22.02 and its two-hundred day simple moving average is $19.09. The stock has a market capitalization of $136.20 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Hedge funds and other institutional investors have recently made changes to their positions in the business. Artemis Investment Management LLP lifted its position in Petroleo Brasileiro S.A.- Petrobras by 4.2% during 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 acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $126,355,000. RWC Asset Advisors US LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 17.7% in 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 purchasing an additional 662,712 shares during the last quarter. Carrhae Capital LLP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth about $87,456,000. Finally, DJE Kapital AG purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $65,428,000.

About Petroleo Brasileiro S.A.- Petrobras

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.