Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded to Buy by Bank of America

Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. They currently have $17.90 price target on the oil and gas exploration company’s stock, up from their prior price target of $16.80.

Several other research analysts also recently issued reports on the company. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a hold rating to a buy rating and set a $18.00 price objective for the company in a research report on Monday, March 25th. Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an overweight rating to an equal weight rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Jefferies Financial Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a buy rating to a hold rating and dropped their price objective for the company from $21.20 to $17.70 in a research note on Wednesday, May 15th. Finally, UBS Group raised their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a buy rating in a research report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $16.56.

Petróleo Brasileiro S.A. – Petrobras Trading Up 2.0 %

Shares of NYSE:PBR opened at $14.49 on Thursday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $13.02 and a 12 month high of $17.91. The business’s 50 day simple moving average is $15.51 and its 200-day simple moving average is $15.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.81.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. The firm had revenue of $23.77 billion for the quarter, compared to analyst estimates of $24.63 billion. During the same period last year, the firm earned $1.11 EPS. Equities analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.47 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, June 13th will be given a $0.0288 dividend. This represents a yield of 16%. The ex-dividend date of this dividend is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 26.45%.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 1,468 shares during the period. Sound Income Strategies LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at $45,000. Frank Rimerman Advisors LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth $54,000. SYSTM Wealth Solutions LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 210.6% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 3,998 shares of the oil and gas exploration company’s stock valued at $61,000 after buying an additional 2,711 shares during the last quarter. Finally, Founders Capital Management grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 17.5% during the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 700 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 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.