Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sees Large Growth in Short Interest

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 46,816,952 shares, a growth of 42.2% from the February 26th total of 32,924,169 shares. Based on an average daily trading volume, of 42,786,219 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.7% of the company’s stock are sold short.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. UBS Group increased their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and decreased their price target for the stock from $20.30 to $19.00 in a research note on Friday, March 13th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.20.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR traded up $0.03 during trading hours on Monday, hitting $20.80. 50,444,464 shares of the stock were exchanged, compared to its average volume of 29,840,379. The stock has a market cap of $134.06 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 0.21 and a beta of 0.51. The stock has a 50-day simple moving average of $16.59 and a 200-day simple moving average of $13.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.71 and a quick ratio of 0.48. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $21.40.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share for the quarter. The firm had revenue of $23.61 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 22.01% and a return on equity of 24.26%. Analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Investors of record on Friday, April 24th will be given a dividend of $0.1191 per share. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 10.53%.

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

Large investors have recently bought and sold shares of the business. Capital International Investors raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% during the 4th 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 during the period. ARGA Investment Management LP lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% in the 4th quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock worth $224,856,000 after purchasing an additional 166,472 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in Petroleo Brasileiro S.A.- Petrobras by 14.1% during the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock valued at $149,963,000 after purchasing an additional 1,562,473 shares during the period. Earnest Partners LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 9.5% during the 4th quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock worth $63,224,000 after buying an additional 462,889 shares during the last quarter. Finally, Perpetual Ltd grew its stake in Petroleo Brasileiro S.A.- Petrobras by 0.5% during the 4th quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock worth $39,262,000 after buying an additional 18,100 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.