PETROLEO BRASIL/ADR (NYSE:PBR) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of PETROLEO BRASIL/ADR (NYSE:PBR) from a hold rating to a buy rating in a research report report published on Monday morning, ValuEngine reports.

A number of other analysts also recently weighed in on the stock. Goldman Sachs Group started coverage on shares of PETROLEO BRASIL/ADR in a research report on Thursday, July 11th. They issued a buy rating on the stock. Citigroup reiterated a buy rating and issued a $23.00 price target (up from $20.20) on shares of PETROLEO BRASIL/ADR in a research report on Monday, July 8th. Finally, Bank of America started coverage on shares of PETROLEO BRASIL/ADR in a research report on Wednesday, July 3rd. They issued a buy rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $20.50.

Shares of NYSE PBR traded up $0.68 during mid-day trading on Monday, hitting $15.32. The company’s stock had a trading volume of 1,375,853 shares, compared to its average volume of 11,169,329. The stock has a market cap of $98.39 billion, a price-to-earnings ratio of 10.63 and a beta of 1.39. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.06. PETROLEO BRASIL/ADR has a one year low of $11.89 and a one year high of $17.90. The company’s fifty day simple moving average is $14.36 and its 200-day simple moving average is $14.87.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its earnings results on Monday, August 5th. The oil and gas exploration company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.38. The company had revenue of $18.50 billion for the quarter, compared to analyst estimates of $22.35 billion. PETROLEO BRASIL/ADR had a net margin of 9.12% and a return on equity of 12.74%. On average, sell-side analysts predict that PETROLEO BRASIL/ADR will post 1.35 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, August 14th were given a $0.077 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 2.01%. PETROLEO BRASIL/ADR’s dividend payout ratio is 21.68%.

Several large investors have recently made changes to their positions in PBR. Advisory Services Network LLC raised its position in shares of PETROLEO BRASIL/ADR by 190.4% in the 1st quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock valued at $79,000 after acquiring an additional 3,246 shares during the period. Westwood Holdings Group Inc. acquired a new stake in PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $133,000. Corient Capital Partners LLC acquired a new stake in PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $159,000. OLD National Bancorp IN raised its holdings in PETROLEO BRASIL/ADR by 14.1% during the 2nd quarter. OLD National Bancorp IN now owns 11,940 shares of the oil and gas exploration company’s stock worth $186,000 after buying an additional 1,479 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 7.65% of the company’s stock.

PETROLEO BRASIL/ADR Company Profile

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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