PETROLEO BRASIL/ADR (NYSE:PBR) Given Buy Rating at Citigroup

Citigroup reiterated their buy rating on shares of PETROLEO BRASIL/ADR (NYSE:PBR) in a research note released on Monday morning, Briefing.com Automated Import reports. Citigroup currently has a $23.00 target price on the oil and gas exploration company’s stock, up from their prior target price of $20.20.

PBR has been the subject of a number of other reports. ValuEngine raised YY from a sell rating to a hold rating in a research report on Friday, June 7th. Bank of America set a $225.00 price objective on Tesla and gave the company a sell rating in a research report on Wednesday, July 3rd. Zacks Investment Research cut GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research report on Tuesday, May 7th. Credit Suisse Group raised J M Smucker from an underperform rating to a neutral rating and raised their price objective for the company from $96.00 to $120.00 in a research report on Monday, April 8th. Finally, HSBC raised PETROLEO BRASIL/ADR from a hold rating to a buy rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $19.19.

PBR stock opened at $16.69 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 1.15. The company has a 50 day moving average of $15.36. The company has a market capitalization of $106.18 billion, a P/E ratio of 11.67 and a beta of 1.48. PETROLEO BRASIL/ADR has a twelve month low of $10.16 and a twelve month high of $17.90.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas exploration company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). PETROLEO BRASIL/ADR had a net margin of 6.50% and a return on equity of 10.35%. The company had revenue of $21.23 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, equities analysts forecast that PETROLEO BRASIL/ADR will post 1.3 EPS for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Monday, July 15th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.0509 per share. This is a boost from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date of this dividend is Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio (DPR) is presently 11.19%.

A number of large investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its holdings in PETROLEO BRASIL/ADR by 72.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 709 shares during the last quarter. Gould Asset Management LLC CA lifted its holdings in PETROLEO BRASIL/ADR by 17.1% during the 1st quarter. Gould Asset Management LLC CA now owns 12,250 shares of the oil and gas exploration company’s stock worth $195,000 after purchasing an additional 1,785 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in PETROLEO BRASIL/ADR by 6.8% during the 1st quarter. Wetherby Asset Management Inc. now owns 39,940 shares of the oil and gas exploration company’s stock worth $636,000 after purchasing an additional 2,532 shares during the last quarter. Advisory Services Network LLC lifted its holdings in PETROLEO BRASIL/ADR by 190.4% during the 1st quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock worth $79,000 after purchasing an additional 3,246 shares during the last quarter. Finally, AGF Investments Inc. lifted its holdings in PETROLEO BRASIL/ADR by 4.0% during the 1st quarter. AGF Investments Inc. now owns 95,299 shares of the oil and gas exploration company’s stock worth $1,517,000 after purchasing an additional 3,663 shares during the last quarter. 7.23% of the stock is owned by institutional investors and hedge funds.

PETROLEO BRASIL/ADR Company Profile

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It 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.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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