Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Receives $18.24 Consensus Target Price from Analysts

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.24.

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. The Goldman Sachs Group boosted their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group reduced their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $20.00 in a report on Monday, August 26th.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock opened at $14.26 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The business has a 50-day moving average price of $14.15 and a 200 day moving average price of $14.49. The company has a market capitalization of $92.97 billion, a P/E ratio of 5.57, a PEG ratio of 0.22 and a beta of 1.41. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.5338 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a dividend yield of 18.8%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 56.25%.

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

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at about $30,000. ORG Partners LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 396.0% in the third quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,679 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at approximately $32,000. Bogart Wealth LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 571.4% in the third quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 2,000 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in Petróleo Brasileiro S.A. – Petrobras by 65.4% in the third quarter. Rosenberg Matthew Hamilton now owns 2,391 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 945 shares during the last quarter.

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.