Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Lifted to Strong-Buy by Wall Street Zen

Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Free Report) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. UBS Group boosted their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.97.

View Our Latest Analysis on PBR

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.7%

Petroleo Brasileiro S.A.- Petrobras stock opened at $22.06 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $26.39. The stock has a market capitalization of $142.16 billion, a PE ratio of 5.57, a price-to-earnings-growth ratio of 1.97 and a beta of 0.29. The business’s fifty day moving average is $21.98 and its 200 day moving average is $19.04.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors 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 payout ratio is currently 10.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $31,000. Ascentis Independent Advisors purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at about $51,000. Harbor Investment Advisory LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at about $54,000. NFSG Corp boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 153.8% in the 3rd quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 2,500 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth about $97,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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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.

Further Reading

Analyst Recommendations for Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

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