Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Trading 3.7% Higher – Here’s Why

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares shot up 3.7% during mid-day trading on Tuesday . The company traded as high as $14.39 and last traded at $14.49. 2,637,475 shares were traded during trading, a decline of 84% from the average session volume of 16,571,148 shares. The stock had previously closed at $13.97.

Analyst Ratings Changes

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

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The company has a fifty day moving average of $13.80 and a two-hundred day moving average of $13.94. The stock has a market capitalization of $92.38 billion, a P/E ratio of 5.58, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared 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 dividend payout ratio (DPR) is 137.93%.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Ethos Financial Group LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth about $25,000. Tandem Financial LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth about $39,000. Whipplewood Advisors LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth about $40,000. Ameliora Wealth Management Ltd. acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at approximately $51,000. Finally, Kapitalo Investimentos Ltda grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 104.4% during the fourth quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 156,663 shares during the last quarter.

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.