Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Shares Down 3.9% - Time to Sell?

Key Points

• Petrobras shares fell 3.9% to about $17.87, below the 200-day moving average of $18.49, with trading volume sharply below average.
• Analyst sentiment remains a “Moderate Buy”, with five Buy ratings, one Hold and one Sell, though Zacks downgraded the stock to “Strong Sell” and JPMorgan reduced its price target to $23.
• The company declared a $0.2649 special dividend, payable December 1 to shareholders of record as of August 25; institutional investors have also recently increased their positions.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report)'s stock price traded down 3.9% during mid-day trading on Tuesday . The company traded as low as $17.88 and last traded at $17.87. 2,470,555 shares were traded during mid-day trading, a decline of 89% from the average session volume of 22,417,086 shares. The stock had previously closed at $18.60.

Analyst Ratings Changes

A number of brokerages have commented on PBR. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of "Moderate Buy" and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Down 4.7%

The business has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $18.49. 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 firm has a market capitalization of $114.27 billion, a price-to-earnings ratio of 4.48, a price-to-earnings-growth ratio of 0.78 and a beta of 0.33.

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 issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is 8.59%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company's stock worth $471,000 after purchasing an additional 11,680 shares during the last quarter. Focus Partners Wealth grew its position in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the 1st quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company's stock worth $296,000 after purchasing an additional 1,356 shares during the period. Cresset Asset Management LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the 2nd quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company's stock worth $201,000 after purchasing an additional 5,624 shares during the period. NewEdge Advisors LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% during the 2nd quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company's stock valued at $235,000 after buying an additional 16,699 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% in the 2nd quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company's stock valued at $674,000 after buying an additional 13,988 shares during the period.

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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