Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a neutral rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $19.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $16.50.

Other equities research analysts have also recently issued reports about the company. UBS Group lowered their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a buy rating for the company in a report on Monday, August 19th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an equal weight rating to an overweight rating and upped their price objective for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating and raised their target price for the company from $16.80 to $17.90 in a research report on Thursday, June 27th. Finally, The Goldman Sachs Group lowered their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a buy rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras has an average rating of Moderate Buy and a consensus target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock opened at $14.58 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The firm’s 50-day moving average is $14.65 and its 200 day moving average is $15.09. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last issued its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. On average, analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 2.65 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be issued a $0.165 dividend. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a dividend yield of 15.4%. The ex-dividend date is Friday, August 23rd. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 25.00%.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock valued at $27,000 after purchasing an additional 1,468 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at approximately $32,000. Nisa Investment Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at approximately $35,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at approximately $45,000.

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.