StockNews.com Lowers Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Hold

StockNews.com lowered shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a buy rating to a hold rating in a research report released on Monday.

A number of other research firms have also recently weighed in on PBR. Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating in a research report on Wednesday, August 23rd. Jefferies Financial Group initiated coverage on Petróleo Brasileiro S.A. – Petrobras in a report on Thursday, September 21st. They issued a buy rating and a $21.20 price target for the company. UBS Group raised Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating and raised their price target for the company from $13.10 to $17.50 in a report on Thursday, August 24th. Citigroup cut Petróleo Brasileiro S.A. – Petrobras from a buy rating to a neutral rating and reduced their price target for the company from $19.00 to $14.00 in a report on Thursday, August 10th. Finally, HSBC raised Petróleo Brasileiro S.A. – Petrobras from a hold rating to a buy rating in a report on Friday, October 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $15.34.

Petróleo Brasileiro S.A. – Petrobras Stock Down 1.5 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $15.55 on Monday. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $8.88 and a twelve month high of $16.55. The stock has a 50 day moving average of $15.21 and a two-hundred day moving average of $13.94. The company has a current ratio of 0.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $101.42 billion, a price-to-earnings ratio of 3.77 and a beta of 1.58.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, November 24th will be issued a dividend of $0.243 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous quarterly dividend of $0.09. This represents a $0.97 annualized dividend and a yield of 6.25%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 7.77%.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

Several hedge funds and other institutional investors have recently bought and sold shares of PBR. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Petróleo Brasileiro S.A. – Petrobras by 83.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,169 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth about $41,000. Janiczek Wealth Management LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 49.9% during the 3rd quarter. Janiczek Wealth Management LLC now owns 2,756 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 918 shares in the last quarter. Harbour Investments Inc. purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth about $29,000. Finally, Federated Hermes Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 34.3% during the 1st quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock worth $50,000 after purchasing an additional 861 shares in the last quarter. 11.57% of the stock is owned by institutional investors and hedge funds.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.