Brokerages Set Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Price Target at $17.47

Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report) have earned a consensus rating of "Buy" from the eight research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.47.

PBR has been the subject of several recent research reports. Hsbc Global Res upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wall Street Zen upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Bank of America cut Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday. Jefferies Financial Group upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price target for the company in a research report on Thursday, May 15th. Finally, HSBC raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Wednesday, March 5th.

Petróleo Brasileiro S.A. - Petrobras Stock Performance

Shares of PBR stock traded up $0.34 during mid-day trading on Wednesday, reaching $12.41. The stock had a trading volume of 37,117,502 shares, compared to its average volume of 17,680,161. The firm has a market cap of $79.97 billion, a price-to-earnings ratio of 4.85, a PEG ratio of 0.18 and a beta of 0.84. Petróleo Brasileiro S.A. - Petrobras has a 1-year low of $11.03 and a 1-year high of $15.73. The business's fifty day moving average is $11.64 and its 200-day moving average is $13.03. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. - Petrobras Increases Dividend

The company also recently announced a -- dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be given a $0.2806 dividend. This represents a dividend yield of 17.6%. The ex-dividend date is Wednesday, June 4th. This is an increase from Petróleo Brasileiro S.A. - Petrobras's previous -- dividend of $0.24. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is 86.57%.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. - Petrobras

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ethos Financial Group LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the fourth quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the first quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. - Petrobras in the fourth quarter valued at approximately $40,000.

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.