Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Has Average Price Target of $21.16

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.16.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Finally, UBS Group boosted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PBR. WINTON GROUP Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth about $695,000. NewEdge Advisors LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 18.3% during the second quarter. NewEdge Advisors LLC now owns 25,724 shares of the oil and gas exploration company’s stock valued at $416,000 after acquiring an additional 3,971 shares in the last quarter. Baird Financial Group Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the second quarter. Baird Financial Group Inc. now owns 94,228 shares of the oil and gas exploration company’s stock valued at $1,523,000 after acquiring an additional 6,153 shares in the last quarter. Carrhae Capital LLP bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $87,456,000. Finally, West Family Investments Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $168,000.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.6%

Petroleo Brasileiro S.A.- Petrobras stock opened at $21.00 on Tuesday. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $22.24. The firm’s 50-day simple moving average is $19.53 and its 200 day simple moving average is $19.27. The stock has a market cap of $135.36 billion, a PE ratio of 5.30, a price-to-earnings-growth ratio of 0.82 and a beta of 0.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 10.86%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.