Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Has Average Price Target of $20.97

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $20.97.

PBR has been the subject of several recent research reports. Wall Street Zen lowered Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. UBS Group lifted their price objective on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $26.18 on Friday. The stock has a market cap of $168.70 billion, a P/E ratio of 6.61, a P/E/G ratio of 2.29 and a beta of 0.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The stock’s fifty day moving average is $21.65 and its 200 day moving average is $19.84. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $26.39.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Evergreen Capital Management LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 2.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 62,462 shares of the oil and gas exploration company’s stock valued at $1,309,000 after buying an additional 1,247 shares in the last quarter. RWC Asset Management LLP boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.6% in the 3rd quarter. RWC Asset Management LLP now owns 3,014,940 shares of the oil and gas exploration company’s stock worth $62,922,000 after buying an additional 384,816 shares during the period. RWC Asset Advisors US LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 17.7% in the 3rd quarter. RWC Asset Advisors US LLC now owns 4,409,205 shares of the oil and gas exploration company’s stock worth $92,020,000 after buying an additional 662,712 shares during the period. Inspire Investing LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 31.4% in the 3rd quarter. Inspire Investing LLC now owns 6,466 shares of the oil and gas exploration company’s stock worth $135,000 after buying an additional 1,544 shares during the period. Finally, BIP Wealth LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth $225,000.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.