Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Sets New 52-Week Low – Here’s Why

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.83 and last traded at $12.89, with a volume of 15429700 shares traded. The stock had previously closed at $13.52.

Analyst Ratings Changes

Several equities analysts have commented on the company. HSBC downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $20.00 in a report on Monday, August 26th. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group increased their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The stock has a market cap of $83.74 billion, a price-to-earnings ratio of 5.02, a PEG ratio of 0.22 and a beta of 1.41. The firm has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $14.44. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.5338 per share. This represents a dividend yield of 18.8%. The ex-dividend date of this dividend is Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 65.23%.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBR. Wealth Enhancement Advisory Services LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 15.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 35,710 shares of the oil and gas exploration company’s stock valued at $517,000 after purchasing an additional 4,856 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth approximately $35,000. KG&L Capital Management LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $475,000. Boyd Wealth Management LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $278,000. Finally, Traynor Capital Management Inc. increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 17.7% in the second quarter. Traynor Capital Management Inc. now owns 13,730 shares of the oil and gas exploration company’s stock valued at $199,000 after purchasing an additional 2,062 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.