Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a hold rating to a buy rating in a research report released on Saturday morning.

Several other brokerages have also recently issued reports on PBR. UBS Group decreased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday. Finally, Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.43.

Petroleo Brasileiro S.A.- Petrobras Stock Down 3.0%

Shares of PBR opened at $11.61 on Friday. The stock has a market capitalization of $74.79 billion, a price-to-earnings ratio of 5.42 and a beta of 0.86. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.10. The business’s 50 day simple moving average is $12.47 and its 200-day simple moving average is $12.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). The business had revenue of $21.04 billion for the quarter, compared to analysts’ expectations of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. As a group, equities 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 Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, August 25th will be issued a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 48.13%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GQG Partners LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 8.0% in the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company’s stock worth $3,672,458,000 after purchasing an additional 18,862,848 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth about $148,086,000. ARGA Investment Management LP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.3% in the 1st quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company’s stock worth $158,258,000 after buying an additional 38,312 shares during the period. Carrhae Capital LLP purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $64,765,000. Finally, Artemis Investment Management LLP increased its stake in Petroleo Brasileiro S.A.- Petrobras by 30.2% in the 1st quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company’s stock worth $56,052,000 after buying an additional 905,800 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.