Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Lifted to Strong-Buy by 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 note published on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on PBR. 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. JPMorgan Chase & Co. raised their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Finally, UBS Group boosted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras Stock Up 3.0%

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $21.61 on Friday. The business’s 50 day simple moving average is $19.59 and its 200 day simple moving average is $19.28. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The firm has a market cap of $139.28 billion, a PE ratio of 5.46, 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 quick ratio of 0.58 and a current ratio of 0.85.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 10.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th 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 purchasing an additional 10,425,563 shares during the last quarter. Oaktree Capital Management LP acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $126,355,000. Carrhae Capital LLP acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth approximately $87,456,000. DJE Kapital AG bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at approximately $42,858,000.

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.