Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Has Consensus Price Target of $21.16 According to Analysts

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $21.16.

PBR has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. UBS Group raised their target price 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. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a report on Saturday.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,706 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth about $31,000. Ascentis Independent Advisors acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $51,000. Harbor Investment Advisory LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $54,000. Finally, Vestor Capital LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at about $119,000.

Petroleo Brasileiro S.A.- Petrobras Trading Up 3.0%

Shares of PBR stock opened at $21.61 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The stock has a fifty day moving average of $19.59 and a two-hundred day moving average of $19.28. The firm has a market capitalization of $139.28 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be issued 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 presently 10.86%.

About Petroleo Brasileiro S.A.- Petrobras

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.