PETROLEO BRASIL/ADR (NYSE:PBR) Trading 5.6% Higher

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Shares of PETROLEO BRASIL/ADR (NYSE:PBR) traded up 5.6% during trading on Wednesday . The company traded as high as $14.12 and last traded at $13.81, 35,617,863 shares traded hands during mid-day trading. An increase of 113% from the average session volume of 16,740,611 shares. The stock had previously closed at $13.08.

A number of analysts have recently commented on the stock. Citigroup reissued a “buy” rating and issued a $23.00 price objective (up previously from $20.20) on shares of PETROLEO BRASIL/ADR in a research report on Monday, July 8th. Zacks Investment Research raised shares of PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Goldman Sachs Group assumed coverage on shares of PETROLEO BRASIL/ADR in a research report on Thursday, July 11th. They issued a “buy” rating on the stock. Bank of America assumed coverage on shares of PETROLEO BRASIL/ADR in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, ValuEngine lowered shares of PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.00.

The firm has a market capitalization of $87.72 billion, a price-to-earnings ratio of 9.07 and a beta of 1.51. The stock’s fifty day moving average is $15.01 and its two-hundred day moving average is $15.43. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 1.11.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its earnings results on Monday, August 5th. The oil and gas exploration company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.38. The business had revenue of $18.50 billion for the quarter, compared to the consensus estimate of $22.35 billion. PETROLEO BRASIL/ADR had a net margin of 9.12% and a return on equity of 12.74%. As a group, analysts anticipate that PETROLEO BRASIL/ADR will post 1.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.077 per share. The ex-dividend date is Tuesday, August 13th. This represents a $0.31 dividend on an annualized basis and a yield of 2.37%. PETROLEO BRASIL/ADR’s payout ratio is 21.68%.

A number of institutional investors and hedge funds have recently modified their holdings of PBR. Investec Asset Management LTD acquired a new position in PETROLEO BRASIL/ADR during the second quarter worth $113,445,000. RWC Asset Advisors US LLC increased its holdings in shares of PETROLEO BRASIL/ADR by 73.2% in the second quarter. RWC Asset Advisors US LLC now owns 11,689,725 shares of the oil and gas exploration company’s stock valued at $182,008,000 after purchasing an additional 4,941,933 shares during the last quarter. Investec Asset Management North America Inc. acquired a new position in shares of PETROLEO BRASIL/ADR in the second quarter valued at $33,770,000. RWC Asset Management LLP increased its holdings in shares of PETROLEO BRASIL/ADR by 63.2% in the second quarter. RWC Asset Management LLP now owns 2,924,832 shares of the oil and gas exploration company’s stock valued at $45,540,000 after purchasing an additional 1,132,749 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its holdings in shares of PETROLEO BRASIL/ADR by 104.8% in the second quarter. Marshall Wace North America L.P. now owns 1,742,823 shares of the oil and gas exploration company’s stock valued at $27,136,000 after purchasing an additional 891,651 shares during the last quarter. Institutional investors and hedge funds own 7.61% of the company’s stock.

PETROLEO BRASIL/ADR Company Profile (NYSE:PBR)

PetrĂ³leo 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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