Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report) had its price objective increased by JPMorgan Chase & Co. from $23.00 to $24.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas exploration company’s stock.
PBR has been the topic of several other reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.48.
Read Our Latest Stock Analysis on Petroleo Brasileiro S.A.- Petrobras
Petroleo Brasileiro S.A.- Petrobras Stock Performance
Petroleo Brasileiro S.A.- Petrobras Dividend Announcement
The business also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be paid a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 10.86%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $12,175,000. Oxbow Advisors LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 4th quarter worth approximately $4,955,000. The Manufacturers Life Insurance Company bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $2,074,000. Finally, Independent Financial Group LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $1,832,000.
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.
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