Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Price Down 6.2% – Here’s Why

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares dropped 6.2% on Monday . The stock traded as low as $12.24 and last traded at $12.31. Approximately 11,498,367 shares were traded during trading, a decline of 31% from the average daily volume of 16,640,170 shares. The stock had previously closed at $13.13.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PBR. Hsbc Global Res upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. HSBC raised shares of 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. Finally, StockNews.com cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $17.81.

Petróleo Brasileiro S.A. – Petrobras Trading Down 8.4 %

The stock has a fifty day moving average of $13.88 and a two-hundred day moving average of $13.91. The company has a market capitalization of $77.49 billion, a PE ratio of 4.70, a PEG ratio of 0.18 and a beta of 0.94. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, June 27th. Stockholders of record on Tuesday, April 22nd will be issued a $0.2403 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a dividend yield of 19%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 138.79%.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

Institutional investors and hedge funds have recently made changes to their positions in the business. GQG Partners LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% during the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock valued at $3,050,855,000 after buying an additional 6,016,560 shares during the last quarter. Lazard Asset Management LLC increased its stake 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 during the period. Annex Advisory Services LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 56.1% in the fourth quarter. Annex Advisory Services LLC now owns 1,508,806 shares of the oil and gas exploration company’s stock valued at $19,403,000 after purchasing an additional 542,118 shares during the last quarter. SG Americas Securities LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 114.4% in the fourth quarter. SG Americas Securities LLC now owns 579,270 shares of the oil and gas exploration company’s stock valued at $7,449,000 after purchasing an additional 309,112 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 18.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company’s stock valued at $24,445,000 after purchasing an additional 265,560 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Company Profile

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.