ValuEngine downgraded shares of PETROLEO BRASIL/ADR (NYSE:PBR) from a hold rating to a sell rating in a research note released on Monday.
PBR has been the subject of a number of other research reports. Bank of America raised shares of PETROLEO BRASIL/ADR from a neutral rating to a buy rating in a report on Thursday, May 10th. UBS Group lowered shares of PETROLEO BRASIL/ADR from an outperform rating to a market perform rating in a report on Thursday, May 24th. Credit Suisse Group lowered shares of PETROLEO BRASIL/ADR from an outperform rating to a hold rating and set a $11.00 target price for the company. in a report on Thursday, May 24th. Morgan Stanley lowered shares of PETROLEO BRASIL/ADR from an overweight rating to an equal weight rating and set a $13.00 target price for the company. in a report on Thursday, May 24th. Finally, Societe Generale raised shares of PETROLEO BRASIL/ADR from a hold rating to a buy rating in a report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $13.80.
Shares of NYSE PBR opened at $10.64 on Monday. The firm has a market capitalization of $75.27 billion, a P/E ratio of 15.20 and a beta of 2.42. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. PETROLEO BRASIL/ADR has a one year low of $8.67 and a one year high of $17.20.
The firm also recently announced a special dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.027 per share. This is a positive change from PETROLEO BRASIL/ADR’s previous special dividend of $0.01. The ex-dividend date is Tuesday, August 14th. PETROLEO BRASIL/ADR’s dividend payout ratio is presently 5.71%.
Several institutional investors have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership purchased a new stake in shares of PETROLEO BRASIL/ADR during the first quarter worth $455,110,000. Bamco Inc. NY boosted its position in shares of PETROLEO BRASIL/ADR by 38.5% during the 1st quarter. Bamco Inc. NY now owns 6,674,235 shares of the oil and gas exploration company’s stock valued at $94,374,000 after acquiring an additional 1,854,025 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter valued at about $19,559,000. Hosking Partners LLP boosted its position in shares of PETROLEO BRASIL/ADR by 4.6% during the 1st quarter. Hosking Partners LLP now owns 1,912,230 shares of the oil and gas exploration company’s stock valued at $27,039,000 after acquiring an additional 84,432 shares during the last quarter. Finally, Earnest Partners LLC boosted its position in shares of PETROLEO BRASIL/ADR by 88.1% during the 2nd quarter. Earnest Partners LLC now owns 1,841,178 shares of the oil and gas exploration company’s stock valued at $18,467,000 after acquiring an additional 862,392 shares during the last quarter. 7.18% of the stock is owned by institutional investors and hedge funds.
About PETROLEO BRASIL/ADR
Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.
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