Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Get Free Report) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.48.
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. Finally, Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st.
Get Our Latest Stock Analysis on PBR
Petroleo Brasileiro S.A.- Petrobras Trading Up 2.2%
Petroleo Brasileiro S.A.- Petrobras Announces Dividend
The company also recently declared a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be paid a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 10.86%.
Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras
A number of large investors have recently added to or reduced their stakes in PBR. Clearstead Advisors LLC raised its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $31,000. Ascentis Independent Advisors acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $51,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $54,000.
Petroleo Brasileiro S.A.- Petrobras Company Profile
Petroleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. The company also produces and sells fuels, lubricants, petrochemical products and other petroleum-derived products.
Petrobras is particularly known for its deepwater and ultra-deepwater operations, including large-scale development of Brazil’s offshore pre-salt oil fields.
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