Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Sees Unusually High Call Option Buying

Key Points

• Unusual options activity: Investors purchased 69,972 call options on Petrobras, 36% above the typical volume of 51,328 contracts.
• Stock performance: Petrobras shares rose $0.63 to $21.61, near their 12-month high of $22.24. The company trades at a low PE ratio of 5.46.
• Positive investor sentiment: Petrobras declared a $0.2649 special dividend, while analysts maintain a “Moderate Buy” consensus with an average price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) saw some unusual options trading on Friday. Stock investors purchased 69,972 call options on the company. This is an increase of 36% compared to the typical volume of 51,328 call options.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR stock traded up $0.63 during trading on Friday, reaching $21.61. 19,198,746 shares of the company's stock were exchanged, compared to its average volume of 22,481,166. The firm's fifty day moving average price is $19.53 and its 200-day moving average price is $19.27. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The stock has a market capitalization of $139.28 billion, a PE ratio of 5.46, a PEG ratio of 0.82 and a beta of 0.29. 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 company also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be paid a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is 10.86%.

Analyst Ratings Changes

PBR has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. UBS Group upped their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 23rd. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.16.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PBR. WINTON GROUP Ltd bought a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $695,000. NewEdge Advisors LLC grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 18.3% during the 2nd quarter. NewEdge Advisors LLC now owns 25,724 shares of the oil and gas exploration company's stock worth $416,000 after purchasing an additional 3,971 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 7.0% during the second quarter. Baird Financial Group Inc. now owns 94,228 shares of the oil and gas exploration company's stock worth $1,523,000 after purchasing an additional 6,153 shares during the period. Carrhae Capital LLP bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth approximately $87,456,000. Finally, West Family Investments Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at approximately $168,000.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil's pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.

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