Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Gap Up to $14.53

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.53, but opened at $14.89. Petróleo Brasileiro S.A. – Petrobras shares last traded at $14.91, with a volume of 1,243,149 shares.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBR. UBS Group decreased their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a report on Monday, August 19th. The Goldman Sachs Group decreased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Bank of America upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.80 to $17.90 in a research note on Thursday, June 27th. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Petróleo Brasileiro S.A. – Petrobras Trading Up 1.9 %

The company has a market cap of $96.59 billion, a price-to-earnings ratio of 4.22, a PEG ratio of 0.17 and a beta of 1.40. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average price is $14.74 and its 200-day moving average price is $15.18.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. On average, equities analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.14 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.165 per share. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. The ex-dividend date 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%.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

A number of institutional investors have recently bought and sold shares of the business. Artisan Partners Limited Partnership acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at approximately $218,758,000. Encompass Capital Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at $73,174,000. Perpetual Ltd bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter valued at $56,337,000. Norden Group LLC grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 3,457.9% during the 1st quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock worth $44,403,000 after purchasing an additional 2,837,247 shares in the last quarter. Finally, Mondrian Investment Partners LTD increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after purchasing an additional 1,889,313 shares during the period.

About Petróleo Brasileiro S.A. – Petrobras

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.