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

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

Several other analysts also recently weighed in on PBR. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Wednesday, October 8th. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. Finally, UBS Group lowered their target price on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Moderate Buy” and an average price target of $15.43.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE:PBR opened at $11.65 on Friday. The company has a market capitalization of $75.04 billion, a price-to-earnings ratio of 5.44 and a beta of 0.86. The business has a 50 day moving average of $12.29 and a 200 day moving average of $12.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.10.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.06). The business had revenue of $21.04 billion for the quarter, compared to analysts’ expectations of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. On average, sell-side analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share 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 Tuesday, December 30th. Investors of record on Monday, August 25th will be paid a $0.0739 dividend. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 47.66%.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of large investors have recently made changes to their positions in PBR. Ping Capital Management Inc. increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 14.0% during the third quarter. Ping Capital Management Inc. now owns 268,000 shares of the oil and gas exploration company’s stock valued at $3,393,000 after buying an additional 33,000 shares during the period. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 70.4% during the 3rd quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock valued at $238,118,000 after purchasing an additional 7,772,595 shares in the last quarter. Westfuller Advisors LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth approximately $90,000. TrueMark Investments LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 14.8% in the third quarter. TrueMark Investments LLC now owns 253,736 shares of the oil and gas exploration company’s stock worth $3,212,000 after purchasing an additional 32,736 shares during the last quarter. Finally, Ridgewood Investments LLC raised its position in Petroleo Brasileiro S.A.- Petrobras by 18.7% in the 3rd quarter. Ridgewood Investments LLC now owns 74,910 shares of the oil and gas exploration company’s stock worth $948,000 after buying an additional 11,824 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.