Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Upgraded at Zacks Research

Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research firms have also weighed in on PBR. Jefferies Financial Group upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $15.30 target price on the stock in a report on Thursday, May 15th. Bank of America lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “neutral” rating in a report on Monday, June 9th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $17.26.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE:PBR opened at $11.9350 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.73. The business has a fifty day simple moving average of $12.58 and a 200 day simple moving average of $12.64. The firm has a market cap of $76.91 billion, a price-to-earnings ratio of 5.58 and a beta of 0.85.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%.The firm had revenue of $21.04 billion for the quarter, compared to analysts’ expectations of $20.78 billion. As a group, sell-side analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Cuts Dividend

The company also recently announced a — dividend, which will be paid on Monday, December 1st. Investors of record on Monday, August 25th will be given a dividend of $0.2471 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a yield of 1,750.0%. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 46.26%.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

Institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $29,000. Geneos Wealth Management Inc. grew its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% during the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,044 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $31,000. Finally, Wayfinding Financial LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $32,000.

Petroleo 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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.