Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Receives $18.24 Consensus Price Target from Brokerages

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $18.24.

Several research firms have recently commented on PBR. Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. UBS Group lowered their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock 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 increased their price objective for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $13.61 on Friday. The stock has a market cap of $88.77 billion, a P/E ratio of 5.32, a P/E/G ratio of 0.23 and a beta of 1.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. The stock’s fifty day moving average is $14.10 and its 200 day moving average is $14.47. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a — dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.5338 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 56.25%.

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

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at $2,994,000. Cetera Advisors LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 35.3% in the 1st quarter. Cetera Advisors LLC now owns 24,167 shares of the oil and gas exploration company’s stock worth $368,000 after buying an additional 6,306 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 202.6% in the 2nd quarter. Park Avenue Securities LLC now owns 50,007 shares of the oil and gas exploration company’s stock worth $725,000 after buying an additional 33,482 shares during the last quarter. Roman Butler Fullerton & Co. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $277,000. Finally, Traveka Wealth LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $163,000.

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.