Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Get Rating) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 36,700,000 shares, a decline of 19.2% from the October 15th total of 45,400,000 shares. Based on an average daily volume of 36,730,000 shares, the short-interest ratio is currently 1.0 days.
Petróleo Brasileiro S.A. – Petrobras Stock Performance
NYSE:PBR opened at $11.56 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a market capitalization of $75.40 billion, a price-to-earnings ratio of 2.22, a PEG ratio of 1.05 and a beta of 1.43. The company’s 50-day moving average is $13.42 and its two-hundred day moving average is $13.36. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $9.58 and a 1-year high of $16.32.
Petróleo Brasileiro S.A. – Petrobras Cuts Dividend
The company also recently announced a — dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Friday, January 1st will be issued a $1.089 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a yield of 64.3%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 69.23%.
Analyst Ratings Changes
PBR has been the topic of a number of recent research reports. Credit Suisse Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $16.00 in a research report on Monday, October 17th. Itaú Unibanco lowered shares of Petróleo Brasileiro S.A. – Petrobras to a “market perform” rating and set a $14.50 price target on the stock. in a research report on Tuesday, August 30th. The Goldman Sachs Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $13.60 to $12.30 in a research report on Friday, November 4th. StockNews.com lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Finally, Itau BBA Securities lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “market perform” rating and set a $14.50 price target on the stock. in a research report on Tuesday, August 30th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.26.
Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras
Several institutional investors and hedge funds have recently bought and sold shares of the company. GQG Partners LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 8.4% in the 2nd quarter. GQG Partners LLC now owns 210,558,037 shares of the oil and gas exploration company’s stock valued at $2,460,368,000 after purchasing an additional 16,321,722 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% in the 1st quarter. Lazard Asset Management LLC now owns 30,293,524 shares of the oil and gas exploration company’s stock worth $448,343,000 after acquiring an additional 826,668 shares during the last quarter. ARGA Investment Management LP lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 19.3% in the 3rd quarter. ARGA Investment Management LP now owns 16,054,650 shares of the oil and gas exploration company’s stock worth $197,898,000 after acquiring an additional 2,596,031 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 34.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 10,179,390 shares of the oil and gas exploration company’s stock worth $150,655,000 after acquiring an additional 2,594,203 shares during the last quarter. Finally, Pendal Group Ltd lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 0.9% in the 2nd quarter. Pendal Group Ltd now owns 9,279,982 shares of the oil and gas exploration company’s stock worth $108,390,000 after acquiring an additional 87,300 shares during the last quarter. 11.74% of the stock is currently owned by institutional investors and hedge funds.
About Petróleo Brasileiro S.A. – Petrobras
Petróleo Brasileiro SA – Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. 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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