Goldman Sachs Group initiated coverage on shares of PETROLEO BRASIL/ADR (NYSE:PBR) in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating on the oil and gas exploration company’s stock.
A number of other research firms also recently issued reports on PBR. Bank of America set a $225.00 price target on shares of Tesla and gave the stock a sell rating in a research report on Wednesday, July 3rd. ValuEngine upgraded shares of YY from a sell rating to a hold rating in a research report on Friday, June 7th. Citigroup set a $12.00 price target on shares of Avaya and gave the stock a hold rating in a research report on Monday, July 8th. HSBC upgraded shares of PETROLEO BRASIL/ADR from a hold rating to a buy rating in a research report on Thursday, March 14th. Finally, Credit Suisse Group upgraded shares of J M Smucker from an underperform rating to a neutral rating and raised their price target for the stock from $96.00 to $120.00 in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $19.19.
PETROLEO BRASIL/ADR stock opened at $16.83 on Thursday. The business has a 50-day simple moving average of $15.42. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 1.15. PETROLEO BRASIL/ADR has a 1 year low of $10.16 and a 1 year high of $17.90. The company has a market cap of $109.77 billion, a P/E ratio of 11.77 and a beta of 1.48.
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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). PETROLEO BRASIL/ADR had a return on equity of 10.35% and a net margin of 6.50%. The business had revenue of $21.23 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities analysts expect that PETROLEO BRASIL/ADR will post 1.3 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Monday, July 15th. Investors of record on Thursday, May 23rd will be issued a $0.0509 dividend. The ex-dividend date is Wednesday, May 22nd. This is a boost from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. PETROLEO BRASIL/ADR’s dividend payout ratio (DPR) is 11.19%.
Several hedge funds have recently added to or reduced their stakes in PBR. Raymond James Financial Services Advisors Inc. boosted its position in shares of PETROLEO BRASIL/ADR by 235.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,822 shares of the oil and gas exploration company’s stock valued at $427,000 after buying an additional 23,028 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of PETROLEO BRASIL/ADR by 25.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 69,135 shares of the oil and gas exploration company’s stock valued at $899,000 after buying an additional 14,056 shares during the period. Stifel Financial Corp purchased a new position in shares of PETROLEO BRASIL/ADR during the fourth quarter valued at approximately $170,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of PETROLEO BRASIL/ADR during the fourth quarter valued at approximately $1,721,000. Finally, Two Sigma Advisers LP boosted its position in shares of PETROLEO BRASIL/ADR by 15,096.1% during the fourth quarter. Two Sigma Advisers LP now owns 2,704,900 shares of the oil and gas exploration company’s stock valued at $35,191,000 after buying an additional 2,687,100 shares during the period. 7.23% of the stock is currently 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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