Brokerages Set Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Target Price at $17.81

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $17.81.

A number of equities research analysts recently weighed in on PBR shares. Hsbc Global Res raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Several institutional investors have recently modified their holdings of PBR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at approximately $141,372,000. GQG Partners LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% in the 4th quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock valued at $3,050,855,000 after purchasing an additional 6,016,560 shares during the period. Lazard Asset Management LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 16.4% in the 4th quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company’s stock worth $279,779,000 after purchasing an additional 3,072,312 shares during the last quarter. Annex Advisory Services LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 56.1% during the fourth quarter. Annex Advisory Services LLC now owns 1,508,806 shares of the oil and gas exploration company’s stock worth $19,403,000 after purchasing an additional 542,118 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 114.4% in the fourth quarter. SG Americas Securities LLC now owns 579,270 shares of the oil and gas exploration company’s stock valued at $7,449,000 after purchasing an additional 309,112 shares during the last quarter.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $14.39 on Friday. The stock has a market capitalization of $92.70 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 0.18 and a beta of 1.39. The firm’s 50-day moving average price is $13.85 and its two-hundred day moving average price is $13.93. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.45 and a 1-year high of $17.44.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, June 27th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.2403 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a yield of 19%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 138.79%.

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.