Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Price Down 6.9% – Should You Sell?
by Sarita Garza · The Markets DailyPetroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Get Free Report) dropped 6.9% during trading on Wednesday . The company traded as low as $19.11 and last traded at $19.2860. Approximately 21,728,467 shares changed hands during trading, a decline of 27% from the average daily volume of 29,937,408 shares. The stock had previously closed at $20.71.
Analyst Ratings Changes
PBR has been the topic of a number of research reports. UBS Group raised their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group raised their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Jefferies Financial Group downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and cut their target price for the company from $20.30 to $19.00 in a research report on Friday, March 13th. Finally, Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.20.
Petroleo Brasileiro S.A.- Petrobras Stock Performance
The business’s 50-day moving average price is $17.54 and its 200-day moving average price is $14.19. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 0.76. The stock has a market cap of $126.78 billion, a PE ratio of 6.47, a P/E/G ratio of 0.18 and a beta of 0.37.
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Get Free Report) last issued its quarterly earnings data on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 22.01% and a return on equity of 24.26%. The firm had revenue of $23.61 billion for the quarter. As a group, equities research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.
Petroleo Brasileiro S.A.- Petrobras Announces Dividend
The company also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Stockholders of record on Friday, April 24th will be given a $0.1191 dividend. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 10.53%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of PBR. GHP Investment Advisors Inc. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter worth approximately $26,000. Clearstead Advisors LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth approximately $39,000. Finally, BNP Paribas grew its position in Petroleo Brasileiro S.A.- Petrobras by 241.9% during the 3rd quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company’s stock worth $54,000 after purchasing an additional 3,000 shares during the last quarter.
About Petroleo Brasileiro S.A.- Petrobras
Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.
Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.