Brokerages Set Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target at $12.29

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $12.29.

A number of analysts have commented on PBR shares. Zacks Investment Research lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research note on Monday, August 23rd. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $11.00 to $13.00 in a report on Friday, May 28th. They noted that the move was a valuation call. Credit Suisse Group raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “outperform” rating and set a $14.00 price objective on the stock in a report on Thursday, August 5th. Finally, Scotiabank upgraded Petróleo Brasileiro S.A. – Petrobras from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $15.50 to $16.00 in a research report on Thursday, August 5th.

NYSE:PBR traded up $0.01 during mid-day trading on Friday, reaching $10.19. 867,080 shares of the company’s stock were exchanged, compared to its average volume of 34,285,250. Petróleo Brasileiro S.A. – Petrobras has a one year low of $6.15 and a one year high of $12.38. The firm has a market capitalization of $66.46 billion, a PE ratio of 3.42, a price-to-earnings-growth ratio of 0.21 and a beta of 1.75. The business’s fifty day simple moving average is $10.72 and its two-hundred day simple moving average is $9.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.31.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Wednesday, August 4th. The oil and gas exploration company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.26. Petróleo Brasileiro S.A. – Petrobras had a net margin of 30.71% and a return on equity of 23.98%. The company had revenue of $20.98 billion for the quarter, compared to analyst estimates of $19.17 billion. As a group, equities research analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 2.33 EPS for the current year.

The company also recently announced an annual dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were issued a $0.616 dividend. This represents a dividend yield of 5.52%. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous annual dividend of $0.04. The ex-dividend date of this dividend was Tuesday, August 17th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 141.86%.

A number of large investors have recently made changes to their positions in PBR. Rockefeller Capital Management L.P. acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at about $49,000. Advisory Services Network LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 6,666.7% during the first quarter. Advisory Services Network LLC now owns 7,105 shares of the oil and gas exploration company’s stock worth $60,000 after purchasing an additional 7,000 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at approximately $85,000. Kestra Private Wealth Services LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the first quarter worth approximately $88,000. Finally, Sovereign Financial Group Inc. purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the first quarter worth approximately $93,000. 10.73% of the stock is currently owned by institutional investors.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA engages in oil and gas exploration, production, and distribution activities. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Gas and Power; and Corporate and Other Business. The Exploration and Production segment involves crude oil, natural gas liquids, and natural gas exploration, development, and production.

Read More: How to Trade Using Analysts Ratings

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

Receive News & Ratings for Petróleo Brasileiro S.A. - Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petróleo Brasileiro S.A. - Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.