Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Price Down 0.6% – Here’s What Happened

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares traded down 0.6% on Monday . The stock traded as low as $14.04 and last traded at $14.08. 2,371,025 shares were traded during mid-day trading, a decline of 86% from the average session volume of 16,536,213 shares. The stock had previously closed at $14.16.

Wall Street Analysts Forecast Growth

PBR has been the topic of a number of recent analyst reports. StockNews.com downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Hsbc Global Res raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The firm’s 50 day simple moving average is $13.82 and its 200 day simple moving average is $13.94. The firm has a market capitalization of $91.83 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.18 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.2403 per share. The ex-dividend date is Tuesday, April 22nd. This represents a yield of 19%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 137.93%.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBR. GQG Partners LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% in the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock worth $3,050,855,000 after buying an additional 6,016,560 shares during the last quarter. Lazard Asset Management LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 16.4% in the 4th quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company’s stock worth $279,779,000 after purchasing an additional 3,072,312 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 15,887,984 shares of the oil and gas exploration company’s stock worth $204,319,000 after purchasing an additional 68,337 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter valued at approximately $141,372,000. Finally, Perpetual Ltd lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 5.2% in the 4th quarter. Perpetual Ltd now owns 3,315,957 shares of the oil and gas exploration company’s stock valued at $42,643,000 after purchasing an additional 163,668 shares during the period.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.