Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks reports.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.48.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE PBR opened at $20.32 on Monday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24. The stock has a 50-day moving average of $17.92 and a 200 day moving average of $18.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The company has a market capitalization of $130.95 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 0.76 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after acquiring an additional 11,680 shares during the last quarter. Focus Partners Wealth grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 7.0% during the 1st quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after acquiring an additional 1,356 shares during the period. Cresset Asset Management LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 55.9% in the 2nd quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock worth $201,000 after purchasing an additional 5,624 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% in the 2nd quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock worth $235,000 after purchasing an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 35.0% in the 2nd quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock worth $674,000 after purchasing an additional 13,988 shares during the period.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.