Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Short Interest Update

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 29,350,000 shares, a decrease of 23.1% from the August 15th total of 38,150,000 shares. Based on an average daily volume of 27,750,000 shares, the short-interest ratio is presently 1.1 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBR. Credit Agricole S A raised its position in Petróleo Brasileiro S.A. – Petrobras by 1.7% in the first quarter. Credit Agricole S A now owns 71,580 shares of the oil and gas exploration company’s stock worth $607,000 after purchasing an additional 1,180 shares in the last quarter. Colony Group LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 8.9% in the second quarter. Colony Group LLC now owns 17,807 shares of the oil and gas exploration company’s stock worth $218,000 after purchasing an additional 1,456 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 9.9% in the second quarter. Checchi Capital Advisers LLC now owns 24,295 shares of the oil and gas exploration company’s stock worth $297,000 after purchasing an additional 2,192 shares in the last quarter. Toronto Dominion Bank raised its position in Petróleo Brasileiro S.A. – Petrobras by 13.6% in the first quarter. Toronto Dominion Bank now owns 19,990 shares of the oil and gas exploration company’s stock worth $170,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 15.9% during the first quarter. Van ECK Associates Corp now owns 18,895 shares of the oil and gas exploration company’s stock worth $161,000 after buying an additional 2,586 shares in the last quarter. Institutional investors and hedge funds own 10.73% of the company’s stock.

PBR stock traded up $0.39 during mid-day trading on Wednesday, reaching $10.10. 1,108,039 shares of the stock traded hands, compared to its average volume of 34,070,352. The company has a quick ratio of 1.00, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $6.15 and a 52 week high of $12.38. The business has a 50-day moving average of $10.61 and a two-hundred day moving average of $9.96. The firm has a market capitalization of $65.87 billion, a PE ratio of 3.26, a P/E/G ratio of 0.21 and a beta of 1.75.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings results on Wednesday, August 4th. The oil and gas exploration company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.26. Petróleo Brasileiro S.A. – Petrobras had a net margin of 30.71% and a return on equity of 23.98%. The company had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $19.17 billion. On average, equities research analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 2.33 EPS for the current fiscal year.

The business also recently announced an annual dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were paid a $0.616 dividend. This represents a dividend yield of 5.52%. The ex-dividend date was Tuesday, August 17th. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous annual dividend of $0.04. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 141.86%.

A number of equities research analysts have recently commented on the company. Credit Suisse Group upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Thursday, August 5th. Zacks Investment Research downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research report on Monday, August 23rd. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Friday, May 28th. They noted that the move was a valuation call. Finally, Scotiabank raised shares of Petróleo Brasileiro S.A. – Petrobras from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $15.50 to $16.00 in a research note on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras has a consensus rating of “Hold” and an average price target of $12.14.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA engages in oil and gas exploration, production, and distribution activities. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Gas and Power; and Corporate and Other Business. The Exploration and Production segment involves crude oil, natural gas liquids, and natural gas exploration, development, and production.

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