Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts rate Petrobras a “Moderate Buy”: Five of seven analysts recommend buying the stock, while two advise holding it. The average 12-month price target is $21.16.
• Institutional ownership increased: Several investors added or initiated positions during the second quarter, including Carrhae Capital LLP, which purchased a stake valued at approximately $87.5 million.
• Petrobras recently declared a special dividend: Investors received $0.2649 per share, with payment scheduled for December 1 and a reported payout ratio of 10.86%.

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.16.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PBR. WINTON GROUP Ltd purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $695,000. NewEdge Advisors LLC lifted its position in shares of 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 worth $416,000 after purchasing an additional 3,971 shares during the last quarter. Baird Financial Group Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the second quarter. Baird Financial Group Inc. now owns 94,228 shares of the oil and gas exploration company's stock worth $1,523,000 after purchasing an additional 6,153 shares in the last quarter. Carrhae Capital LLP bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $87,456,000. Finally, West Family Investments Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $168,000.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE PBR opened at $20.66 on Tuesday. The business's 50-day moving average price is $19.41 and its 200 day moving average price is $19.23. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The company has a market capitalization of $133.17 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.80 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.