Petroleo Brasileiro S.A.- Petrobras Target of Unusually Large Options Trading (NYSE:PBR)

Key Points

• Unusual options activity: Traders purchased 372,311 PBR call options, about 758% above the typical volume of 43,402 contracts.
• Analyst sentiment is mixed but leans positive: Zacks downgraded the stock to “strong sell,” while Weiss reiterated “buy” and JPMorgan maintained an “overweight” rating with a $23 price target. The consensus rating is “Moderate Buy,” with a $19.28 price target.
• Stock and dividend update: PBR traded at $18.61, while Petrobras announced a special $0.2649-per-share dividend payable December 1 to shareholders of record August 25.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) saw some unusual options trading activity on Monday. Stock traders purchased 372,311 call options on the stock. This represents an increase of approximately 758% compared to the typical volume of 43,402 call options.

Analyst Upgrades and Downgrades

Several research firms have commented on PBR. Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.28.

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

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $31,000. TD Waterhouse Canada Inc. grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 358.5% in the second quarter. TD Waterhouse Canada Inc. now owns 40,483 shares of the oil and gas exploration company's stock valued at $647,000 after purchasing an additional 31,654 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth $187,000. Quantitative Investment Management LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $5,122,000. Finally, Benjamin Edwards Inc. increased its position in Petroleo Brasileiro S.A.- Petrobras by 81.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 32,495 shares of the oil and gas exploration company's stock worth $525,000 after purchasing an additional 14,582 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

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's fifty day moving average price is $17.69 and its 200-day moving average price is $18.46. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The company has a market capitalization of $119.92 billion, a price-to-earnings ratio of 4.70, a price-to-earnings-growth ratio of 0.78 and a beta of 0.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently announced 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%.

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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