Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded to Overweight by Morgan Stanley

Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, Marketbeat reports. The brokerage currently has $20.00 price objective on the oil and gas exploration company’s stock, up from their previous price objective of $18.00.

A number of other brokerages have also weighed in on PBR. The Goldman Sachs Group lowered their price objective on shares of 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. 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 for the company in a research note on Monday, August 19th. Jefferies Financial Group cut Petróleo Brasileiro S.A. – Petrobras from a buy rating to a hold rating and reduced their price objective for the company from $21.20 to $17.70 in a research note on Wednesday, May 15th. Finally, Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating and boosted their target price for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of Moderate Buy and an average target price of $17.63.

Petróleo Brasileiro S.A. – Petrobras Trading Up 8.6 %

Shares of PBR stock opened at $15.65 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70. The firm has a market cap of $102.04 billion, a P/E ratio of 4.55, a price-to-earnings-growth ratio of 0.18 and a beta of 1.41. The business has a 50-day moving average price of $14.57 and a two-hundred day moving average price of $15.42. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.90 and a 12-month high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

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

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted 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 worth $27,000 after purchasing an additional 1,468 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $32,000. Nisa Investment Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth approximately $35,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth 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.