Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.56.

Several analysts have recently commented on PBR shares. Jefferies Financial Group cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.20 to $17.70 in a report on Wednesday, May 15th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, March 25th. UBS Group increased their target price on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, Bank of America upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.80 to $17.90 in a report on Thursday, June 27th.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBR. EverSource Wealth Advisors LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after buying an additional 1,468 shares during the last quarter. Sound Income Strategies LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $45,000. Frank Rimerman Advisors LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $54,000. SYSTM Wealth Solutions LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 210.6% during the first quarter. SYSTM Wealth Solutions LLC now owns 3,998 shares of the oil and gas exploration company’s stock worth $61,000 after buying an additional 2,711 shares during the last quarter. Finally, Founders Capital Management lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 17.5% during the 1st quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 700 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of NYSE:PBR opened at $15.21 on Thursday. The business’s fifty day moving average price is $15.00 and its two-hundred day moving average price is $15.82. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $13.02 and a fifty-two week high of $17.91. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a net margin of 22.46% and a return on equity of 31.07%. The company had revenue of $23.77 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter last year, the company earned $1.11 earnings per share. Sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.46 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.0288 per share. This represents a dividend yield of 16%. The ex-dividend date of this dividend is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 26.45%.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.