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

Key Points

• Petroleo Brasileiro S.A.- Petrobras has received an average consensus rating of "Buy" from eight brokerages, indicating positive market sentiment.
• The company recently reported quarterly earnings of $0.64 per share, falling short of the consensus estimate of $0.70 by $0.06.
• Petrobras announced a special dividend of $0.0739 per share, with payment set for December 30th, indicating ongoing shareholder returns.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) has been given an average recommendation of "Buy" by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.14.

PBR has been the subject of several recent research reports. Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. UBS Group lowered their price objective on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a research report on Friday, August 22nd. Finally, Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th.

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

Several hedge funds have recently made changes to their positions in PBR. GQG Partners LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.0% during the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company's stock valued at $3,672,458,000 after buying an additional 18,862,848 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at approximately $148,086,000. Carrhae Capital LLP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $64,765,000. New York State Common Retirement Fund purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $29,984,000. Finally, Acadian Asset Management LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 11,321.8% during the second quarter. Acadian Asset Management LLC now owns 1,356,687 shares of the oil and gas exploration company's stock valued at $16,961,000 after buying an additional 1,344,809 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.8%

Shares of NYSE PBR opened at $12.82 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $15.34. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $82.59 billion, a price-to-earnings ratio of 5.99 and a beta of 0.91. The business has a 50-day moving average of $12.45 and a 200-day moving average of $12.42.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. The company had revenue of $21.04 billion during the quarter, compared to the consensus estimate of $20.78 billion. Sell-side analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.0739 per share. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is 48.13%.

About Petroleo 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.

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