Brokerages Set Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Target Price at $16.76

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.76.

A number of analysts have weighed in on the company. Bank of America lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, March 8th. UBS Group increased their target price on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research note on Monday, March 25th. Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Finally, HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday, March 25th.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $45,000. Frank Rimerman Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $54,000. SYSTM Wealth Solutions LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 210.6% in the first quarter. SYSTM Wealth Solutions LLC now owns 3,998 shares of the oil and gas exploration company’s stock valued at $61,000 after buying an additional 2,711 shares during the last quarter. Founders Capital Management raised its stake in Petróleo Brasileiro S.A. – Petrobras by 17.5% in the first quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after buying an additional 700 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at about $85,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $16.93 on Friday. The stock’s fifty day moving average is $15.91 and its 200 day moving average is $15.94. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $10.01 and a fifty-two week high of $17.91. The firm has a market capitalization of $110.42 billion, a PE ratio of 4.43, a PEG ratio of 0.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.15. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. The company had revenue of $27.11 billion for the quarter, compared to analyst estimates of $26.45 billion. On average, sell-side analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.62 earnings per share for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 6th will be given a dividend of $0.3406 per share. This represents a yield of 16.25%. The ex-dividend date is Friday, May 3rd. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 21.20%.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also 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.