Hsbc Global Res Lowers Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Hold

Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

Several other research analysts have also weighed in on PBR. JPMorgan Chase & Co. raised 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 lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group lowered their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley raised 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. Finally, Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $16.80 to $17.90 in a research report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of PBR opened at $13.65 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The stock’s 50-day moving average price is $14.77 and its two-hundred day moving average price is $15.04. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 0.70.

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 EPS for the quarter, hitting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. The firm had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. As a group, research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.4 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.165 per share. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. This represents a dividend yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 34.68%.

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

Institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 10.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,608 shares of the oil and gas exploration company’s stock valued at $258,000 after buying an additional 1,495 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 1st quarter valued at about $251,000. Ballentine Partners LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 20.4% during the 1st quarter. Ballentine Partners LLC now owns 13,358 shares of the oil and gas exploration company’s stock valued at $203,000 after purchasing an additional 2,262 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 101.7% during the 1st quarter. Sound Income Strategies LLC now owns 5,643 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 2,845 shares during the last quarter. Finally, Congress Park Capital LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter valued at about $262,000.

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 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.