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

Wall Street Zen cut shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a strong-buy rating to a buy rating in a report published on Sunday morning,Wall Street Zen reports.

Several other research firms have also recently commented on PBR. 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 upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target 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. Finally, 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE PBR opened at $25.48 on Friday. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $25.80. The firm’s 50-day simple moving average is $20.43 and its 200 day simple moving average is $19.54. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market cap of $164.17 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.00 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 10.86%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Hedge funds and other institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 4.2% in the third quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock worth $138,640,000 after acquiring an additional 270,422 shares in the last quarter. Oaktree Capital Management LP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $126,355,000. Carrhae Capital LLP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at approximately $87,456,000. DJE Kapital AG purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $65,428,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at approximately $42,858,000.

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.