Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target Raised to $17.00

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price target increased by The Goldman Sachs Group from $15.40 to $17.00 in a research report sent to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas exploration company’s stock.

Several other equities analysts have also weighed in on the stock. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. UBS Group decreased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. Finally, Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock opened at $13.98 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.67. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.90 and a twelve month high of $17.91. The business’s fifty day moving average is $14.30 and its 200-day moving average is $14.76.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be issued a $0.227 dividend. This represents a yield of 16.3%. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date of this dividend is Friday, December 27th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 33.59%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of PBR. EverSource Wealth Advisors LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 1,468 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $30,000. ORG Partners LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% during the third quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,679 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth approximately $32,000. Finally, Bogart Wealth LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 571.4% during the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 2,000 shares in the last quarter.

Petróleo 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.