Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Shares Down 3.9% – Here’s Why

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)’s share price was down 3.9% during mid-day trading on Tuesday . The company traded as low as $17.88 and last traded at $17.87. Approximately 2,470,555 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 22,417,086 shares. The stock had previously closed at $18.60.

Analyst Upgrades and Downgrades

PBR has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Moderate Buy” and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.7%

The company has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $18.53. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The stock has a market cap of $114.26 billion, a PE ratio of 4.48, a PEG ratio of 0.73 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 10.86%.

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% in the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after acquiring an additional 10,425,563 shares during the period. Mondrian Investment Partners LTD lifted its position in Petroleo Brasileiro S.A.- Petrobras by 14.1% during the fourth quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock valued at $149,963,000 after purchasing an additional 1,562,473 shares during the period. Oaktree Capital Management LP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth approximately $126,355,000. Earnest Partners LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 9.5% in the 4th quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock worth $63,224,000 after purchasing an additional 462,889 shares during the period. Finally, DJE Kapital AG bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $65,428,000.

About Petroleo Brasileiro S.A.- Petrobras

Petro?leo 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.