Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Gap Down – Here’s What Happened

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.61, but opened at $11.37. Petróleo Brasileiro S.A. – Petrobras shares last traded at $11.43, with a volume of 7,619,593 shares traded.

Analyst Upgrades and Downgrades

PBR has been the topic of several recent research reports. Wall Street Zen upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Jefferies Financial Group upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.30 price target on the stock in a research report on Thursday, May 15th. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, March 5th. Finally, 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. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.47.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The business’s 50 day moving average is $12.02 and its 200 day moving average is $13.15. The stock has a market capitalization of $75.01 billion, a PE ratio of 4.55, a PEG ratio of 0.18 and a beta of 0.87. 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 Increases Dividend

The firm also recently declared a — dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be issued a $0.2806 dividend. The ex-dividend date is Wednesday, June 4th. This represents a dividend yield of 17.6%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous — dividend of $0.24. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 86.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ethos Financial Group LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth approximately $25,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at about $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at about $34,000. Finally, Tandem Financial LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at about $39,000.

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.