Petroleo Brasileiro S.A.- Petrobras Sees Unusually Large Options Volume (NYSE:PBR)

Key Points

• Unusually high options activity: Traders purchased 63,480 put options on Petrobras, 26% above the average volume of 50,510, signaling increased bearish or hedging interest.
• Stock and dividend: PBR shares traded at $20.73, near their one-year high of $22.24. Petrobras also announced a special dividend of $0.2649 per share, payable December 1 to shareholders of record August 25.
• Analyst and institutional sentiment: Analysts maintain a “Moderate Buy” consensus, while JPMorgan raised its price target to $24. Several major institutional investors, including Capital International Investors, expanded or initiated positions in the company.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) saw some unusual options trading activity on Thursday. Traders bought 63,480 put options on the company. This represents an increase of 26% compared to the average volume of 50,510 put options.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of NYSE PBR traded down $0.13 during mid-day trading on Thursday, hitting $20.73. 8,927,258 shares of the company were exchanged, compared to its average volume of 22,563,271. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a 50 day simple moving average of $18.01 and a 200-day simple moving average of $18.67. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.43 and a 1-year high of $22.24. The firm has a market cap of $133.57 billion, a price-to-earnings ratio of 5.24, a price-to-earnings-growth ratio of 0.80 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is presently 10.86%.

Analyst Ratings Changes

PBR has been the subject of a number of research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. 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. Finally, Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.48.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 51.6% during the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company's stock worth $363,052,000 after purchasing an additional 10,425,563 shares in the last quarter. Oaktree Capital Management LP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $126,355,000. DJE Kapital AG purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $65,428,000. Public Employees Retirement System of Ohio purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at approximately $42,858,000. Finally, DNB Asset Management AS acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth approximately $21,778,000.

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.

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