Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Upgraded to “Buy” at Bank of America

Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a neutral rating to a buy rating in a research note published on Friday morning, Marketbeat reports. They currently have $24.80 target price on the oil and gas exploration company’s stock, up from their previous target price of $18.70.

PBR has been the subject of several other research reports. Jefferies Financial Group downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their price target for the stock from $20.30 to $19.00 in a report on Friday, March 13th. UBS Group upped their price target on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, April 10th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Trading Down 5.0%

NYSE PBR opened at $20.43 on Friday. The company has a market cap of $131.66 billion, a price-to-earnings ratio of 6.72, a P/E/G ratio of 0.17 and a beta of 0.37. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $22.05. The business has a 50 day moving average price of $18.47 and a 200-day moving average price of $14.61. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%.The business had revenue of $23.61 billion during the quarter. 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 Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Friday, April 24th will be paid a $0.1191 dividend. The ex-dividend date is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 11.51%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Insigneo Advisory Services LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 210,974 shares of the oil and gas exploration company’s stock worth $2,671,000 after acquiring an additional 780 shares during the last quarter. Truist Financial Corp increased its stake in Petroleo Brasileiro S.A.- Petrobras by 2.6% in the 4th quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock worth $388,000 after acquiring an additional 829 shares during the last quarter. Drum Hill Capital LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.7% in the 3rd quarter. Drum Hill Capital LLC now owns 132,914 shares of the oil and gas exploration company’s stock worth $1,683,000 after acquiring an additional 866 shares during the last quarter. World Investment Advisors increased its stake in Petroleo Brasileiro S.A.- Petrobras by 6.7% in the 3rd quarter. World Investment Advisors now owns 15,322 shares of the oil and gas exploration company’s stock worth $194,000 after acquiring an additional 961 shares during the last quarter. Finally, Intrua Financial LLC increased its stake in Petroleo Brasileiro S.A.- Petrobras by 3.7% in the 4th quarter. Intrua Financial LLC now owns 28,785 shares of the oil and gas exploration company’s stock worth $341,000 after acquiring an additional 1,040 shares during the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.