Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Lowered to Neutral Rating by Bank of America

Bank of America lowered shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a buy rating to a neutral rating in a research note released on Monday morning, MarketBeat Ratings reports.

A number of other analysts have also commented on PBR. Jefferies Financial Group raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.30 price target on the stock in a research note on Thursday, May 15th. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, March 5th. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Wall Street Zen upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Buy” and an average target price of $17.47.

Petróleo Brasileiro S.A. – Petrobras Trading Down 1.0%

NYSE PBR opened at $11.21 on Monday. The company has a market cap of $72.25 billion, a price-to-earnings ratio of 4.38, a price-to-earnings-growth ratio of 0.18 and a beta of 0.84. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $11.03 and a twelve month high of $15.73. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $11.71 and its 200 day moving average is $13.05.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be paid a $0.2806 dividend. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous — dividend of $0.24. This represents a dividend yield of 17.6%. The ex-dividend date of this dividend is Wednesday, June 4th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is currently 86.57%.

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

A number of hedge funds have recently bought and sold shares of PBR. GQG Partners LLC grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 8.0% during the 1st quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company’s stock worth $3,672,458,000 after acquiring an additional 18,862,848 shares during the period. Carrhae Capital LLP bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter valued at about $64,765,000. Lazard Asset Management LLC grew its stake in Petróleo Brasileiro S.A. – Petrobras by 16.4% during the fourth quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company’s stock worth $279,779,000 after purchasing an additional 3,072,312 shares during the period. New York State Common Retirement Fund bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the first quarter worth approximately $29,984,000. Finally, Artemis Investment Management LLP increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 30.2% in the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company’s stock worth $56,052,000 after purchasing an additional 905,800 shares in the last quarter.

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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.