Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Shares Gap Up – Here’s Why

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $18.53, but opened at $19.18. Petroleo Brasileiro S.A.- Petrobras shares last traded at $19.2610, with a volume of 3,933,447 shares trading hands.

Analysts Set New Price Targets

PBR has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.48.

Petroleo Brasileiro S.A.- Petrobras Trading Up 5.0%

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The stock’s 50-day moving average is $17.92 and its two-hundred day moving average is $18.63. The stock has a market cap of $130.95 billion, a P/E ratio of 5.13, a price-to-earnings-growth ratio of 0.76 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

Institutional investors have recently bought and sold shares of the business. Capital International Investors increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after buying an additional 10,425,563 shares during the last quarter. Oaktree Capital Management LP purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $126,355,000. DJE Kapital AG purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $65,428,000. Public Employees Retirement System of Ohio bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth approximately $42,858,000. Finally, DNB Asset Management AS bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth approximately $21,778,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.