Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a neutral rating to an overweight rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $19.00 target price on the oil and gas exploration company’s stock, up from their prior target price of $16.50.

Several other research analysts have also recently weighed in on the stock. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a neutral rating to a buy rating and upped their price objective for the stock from $16.80 to $17.90 in a research report on Thursday, June 27th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an equal weight rating to an overweight rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. UBS Group reduced their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a buy rating on the stock in a research report on Monday, August 19th. Finally, The Goldman Sachs Group reduced their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a buy rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR stock opened at $14.58 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. The company’s 50 day moving average is $14.65 and its 200 day moving average is $15.09. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $23.47 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. Analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 2.65 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The firm also recently declared a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be paid a $0.165 dividend. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date of this dividend is Friday, August 23rd. This represents a yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 25.00%.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock valued at $27,000 after buying an additional 1,468 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at $32,000. Nisa Investment Advisors LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at $35,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the second quarter valued at $45,000.

Petróleo 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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also 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.