Investors Purchase Large Volume of Call Options on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was the target of some unusual options trading on Monday. Investors bought 372,311 call options on the stock. This represents an increase of 758% compared to the average volume of 43,402 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their price target 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. Finally, Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.28.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBR. Clearstead Advisors LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $31,000. Ascentis Independent Advisors bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $51,000. Finally, Harbor Investment Advisory LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $54,000.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.8%

Shares of PBR traded down $0.54 during trading on Monday, reaching $18.61. The company’s stock had a trading volume of 17,848,960 shares, compared to its average volume of 22,514,014. The company has a fifty day moving average of $17.69 and a two-hundred day moving average of $18.46. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The company has a market cap of $119.92 billion, a price-to-earnings ratio of 4.70, a P/E/G ratio of 0.78 and a beta of 0.33. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

About Petroleo Brasileiro S.A.- Petrobras

Petróleo 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.