Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) from a hold rating to a strong-buy rating in a report released on Wednesday, August 20th,Zacks.com reports.
A number of other equities research analysts also recently weighed in on PBR. Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Jefferies Financial Group raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price for the company in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $16.14.
Read Our Latest Stock Analysis on PBR
Petroleo Brasileiro S.A.- Petrobras Stock Up 0.6%
Shares of NYSE PBR traded up $0.08 during trading hours on Wednesday, hitting $12.17. The company had a trading volume of 7,294,869 shares, compared to its average volume of 21,087,418. The stock has a market capitalization of $78.40 billion, a P/E ratio of 5.68 and a beta of 0.85. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.70. The firm's 50 day moving average is $12.54 and its 200-day moving average is $12.60.
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 EPS 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 analyst estimates of $20.78 billion. On average, 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 Cuts Dividend
The company also recently declared a -- dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, August 25th will be paid a dividend of $0.2471 per share. This represents a dividend yield of 1,750.0%. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 48.13%.
Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras
A number of hedge funds and other institutional investors have recently made changes to their positions in PBR. Financial Gravity Companies Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $29,000. Geneos Wealth Management Inc. lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock valued at $30,000 after acquiring an additional 1,044 shares during the period. Chung Wu Investment Group LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at $31,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $32,000.
About Petroleo Brasileiro S.A.- Petrobras
(
Get Free Report)
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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