Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Upgraded at Wall Street Zen

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

Several other equities analysts have also recently issued reports on PBR. Weiss Ratings reissued a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. JPMorgan Chase & Co. raised 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. UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.16.

Petroleo Brasileiro S.A.- Petrobras Stock Up 11.4%

Shares of NYSE:PBR opened at $24.12 on Friday. The stock’s 50-day moving average is $19.71 and its 200 day moving average is $19.32. The company has a market cap of $155.44 billion, a PE ratio of 6.09, a P/E/G ratio of 0.85 and a beta of 0.29. 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 1 year low of $11.43 and a 1 year high of $24.76.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 10.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% during the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after acquiring an additional 10,425,563 shares in the last quarter. Oaktree Capital Management LP purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $126,355,000. Carrhae Capital LLP bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth about $87,456,000. DJE Kapital AG bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $65,428,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $42,858,000.

More Petroleo Brasileiro S.A.- Petrobras News

Here are the key news stories impacting Petroleo Brasileiro S.A.- Petrobras this week:

• Positive Sentiment: Second Amapá oil discovery strengthens exploration outlook: Petrobras identified another oil-bearing interval in the FZA-M-59 block in the Foz do Amazonas Basin. Electrical logs, rock samples and fluid samples supported the finding, adding to an earlier discovery and advancing the company’s Equatorial Margin exploration campaign. Three additional wells are planned for 2027, potentially improving long-term production and reserve growth. Petrobras Scores Second Oil Find in Foz do Amazonas Basin
• Positive Sentiment: Brazilian-election rally lifts PBR and other locally exposed stocks: Right-wing Senator Flávio Bolsonaro’s unexpected first-round lead over President Luiz Inácio Lula da Silva triggered a broad rally in Brazilian equities, including U.S.-listed shares. Investors may be anticipating more market-oriented economic policies, improved investor sentiment and potentially less government intervention at Petrobras. Brazilian stocks soar as Flávio Bolsonaro takes surprise election lead
• Neutral Sentiment: Political gains remain preliminary: Bolsonaro’s lead came in the first round, so the eventual election result and its implications for Petrobras’ pricing, investment and dividend policies remain uncertain. The rally may therefore remain sensitive to polling and campaign developments. XP Inc. and Other Stocks Surging After Brazil’s Election Shock
• Neutral Sentiment: Discovery is not yet a confirmed commercial field: Petrobras will need further appraisal work to determine the size, quality and economic viability of the Amapá accumulation. Petrobras reports new oil discovery in Amapá block FZA-M-59

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.