Analysts Set Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target at $18.24

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.24.

A number of research analysts recently weighed in on the company. Morgan Stanley raised Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Monday, August 26th. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group reduced their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, The Goldman Sachs Group raised their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Petróleo Brasileiro S.A. – Petrobras Stock Up 1.1 %

Shares of NYSE:PBR opened at $14.34 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week high of $17.91. The firm has a market capitalization of $93.49 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.22 and a beta of 1.41. The stock has a 50 day moving average price of $14.17 and a 200-day moving average price of $14.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

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

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 13.1% in the 3rd quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock worth $227,961,000 after buying an additional 1,835,297 shares during the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in 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 buying an additional 1,889,313 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth $141,372,000. Encompass Capital Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth $73,174,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after buying an additional 1,039,700 shares during the last quarter.

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 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.