Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Receives $17.63 Average Price Target from Analysts

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.63.

Several analysts have recently issued reports on the company. Bank of America raised 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. Jefferies Financial Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the company from $21.20 to $17.70 in a report on Wednesday, May 15th. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $20.00 in a report on Monday, August 26th. The Goldman Sachs Group lowered their price target on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, UBS Group reduced their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.3 %

PBR stock opened at $15.23 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The company’s 50-day simple moving average is $14.68 and its 200 day simple moving average is $15.38. The company has a market capitalization of $99.33 billion, a PE ratio of 4.43, a price-to-earnings-growth ratio of 0.18 and a beta of 1.41.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The firm had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. As a group, sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.14 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth approximately $218,758,000. Encompass Capital Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $73,174,000. Perpetual Ltd acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter worth $56,337,000. Norden Group LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 3,457.9% in the first quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock valued at $44,403,000 after buying an additional 2,837,247 shares during the period. Finally, Mondrian Investment Partners LTD grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 23.0% during the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after acquiring an additional 1,889,313 shares during the period.

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.