Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

PBR has been the subject of a number of other research reports. 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. JPMorgan Chase & Co. raised their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Finally, UBS Group boosted 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 report on Wednesday, September 23rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.1%

Shares of NYSE:PBR opened at $25.28 on Friday. The stock’s 50-day moving average price is $20.17 and its two-hundred day moving average price is $19.46. 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 12-month low of $11.43 and a 12-month high of $25.60. The firm has a market cap of $162.89 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 0.99 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 $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 10.86%.

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

A number of institutional investors have recently added to or reduced their stakes in PBR. Carrhae Capital LLP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $87,456,000. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $12,175,000. The Manufacturers Life Insurance Company acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $2,074,000. Finally, Quantitative Investment Management LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $5,122,000.

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.