PETROLEO BRASIL/ADR (NYSE:PBR) Receives New Coverage from Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of PETROLEO BRASIL/ADR (NYSE:PBR) in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating on the oil and gas exploration company’s stock.

Several other equities analysts also recently issued reports on PBR. Bank of America set a $225.00 target price on Tesla and gave the company a sell rating in a research report on Wednesday, July 3rd. Credit Suisse Group raised J M Smucker from an underperform rating to a neutral rating and upped their target price for the company from $96.00 to $120.00 in a research report on Monday, April 8th. ValuEngine raised YY from a sell rating to a hold rating in a research report on Friday, June 7th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research report on Tuesday, May 7th. Finally, Citigroup set a $12.00 target price on Avaya and gave the company a hold rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $19.19.

Shares of PBR stock opened at $16.83 on Thursday. The business’s fifty day simple moving average is $15.42. The firm has a market capitalization of $109.77 billion, a P/E ratio of 11.77 and a beta of 1.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 1.15. PETROLEO BRASIL/ADR has a 12-month low of $10.16 and a 12-month high of $17.90.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas exploration company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The business had revenue of $21.23 billion for the quarter, compared to analyst estimates of $21.65 billion. PETROLEO BRASIL/ADR had a return on equity of 10.35% and a net margin of 6.50%. As a group, sell-side analysts forecast that PETROLEO BRASIL/ADR will post 1.3 earnings per share for the current year.

The company also recently announced a special dividend, which will be paid on Monday, July 15th. Investors of record on Thursday, May 23rd will be given a $0.0509 dividend. This is an increase from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date of this dividend is Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio is presently 11.19%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBR. Virtu Financial LLC acquired a new stake in PETROLEO BRASIL/ADR during the 1st quarter worth about $330,000. Lindbrook Capital LLC grew its position in PETROLEO BRASIL/ADR by 72.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 709 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in PETROLEO BRASIL/ADR during the 4th quarter worth about $1,721,000. USS Investment Management Ltd grew its position in PETROLEO BRASIL/ADR by 18.4% during the 1st quarter. USS Investment Management Ltd now owns 2,576,104 shares of the oil and gas exploration company’s stock worth $40,999,000 after purchasing an additional 400,000 shares during the period. Finally, RWC Asset Advisors US LLC acquired a new stake in PETROLEO BRASIL/ADR during the 4th quarter worth about $83,394,000. 7.23% of the stock is currently owned by hedge funds and other institutional investors.

PETROLEO BRASIL/ADR Company Profile

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It 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.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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