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

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

Several equities analysts have commented on PBR shares. The Goldman Sachs Group raised their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $14.12 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91. The stock has a market capitalization of $92.09 billion, a PE ratio of 5.56, a P/E/G ratio of 0.21 and a beta of 1.39. The firm has a 50 day moving average of $14.28 and a two-hundred day moving average of $14.75.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.227 per share. The ex-dividend date is Friday, December 27th. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. This represents a dividend yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is 38.67%.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted 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 buying an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $30,000. ORG Partners LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 396.0% in the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,679 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $32,000. Finally, Bogart Wealth LLC lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 571.4% in the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 2,000 shares in 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.