PETROLEO BRASIL/ADR (PBR) Shares Gap Down to $14.36

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PETROLEO BRASIL/ADR (NYSE:PBR) gapped down prior to trading on Wednesday . The stock had previously closed at $14.73, but opened at $14.36. PETROLEO BRASIL/ADR shares last traded at $14.16, with a volume of 12641206 shares trading hands.

Several research firms have recently weighed in on PBR. Zacks Investment Research cut PETROLEO BRASIL/ADR from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 30th. ValuEngine cut PETROLEO BRASIL/ADR from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Credit Suisse Group reissued a “hold” rating and issued a $15.00 price objective on shares of PETROLEO BRASIL/ADR in a research report on Thursday, January 31st. HSBC raised PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, UBS Group raised PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. PETROLEO BRASIL/ADR presently has an average rating of “Buy” and a consensus target price of $18.50.

The company has a debt-to-equity ratio of 1.30, a current ratio of 1.15 and a quick ratio of 0.86. The company has a market cap of $89.16 billion, a P/E ratio of 9.41 and a beta of 1.55.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). The firm had revenue of $24.35 billion during the quarter, compared to analyst estimates of $24.18 billion. PETROLEO BRASIL/ADR had a net margin of 6.50% and a return on equity of 10.35%. Equities research analysts forecast that PETROLEO BRASIL/ADR will post 1.52 EPS for the current fiscal year.

The company also recently announced a special dividend, which will be paid on Monday, July 15th. Investors of record on Thursday, May 23rd will be paid a $0.0509 dividend. This is a positive change from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date of this dividend is Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio is presently 5.59%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC raised its stake in shares of PETROLEO BRASIL/ADR by 72.2% in the first quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 709 shares in the last quarter. Gould Asset Management LLC CA raised its stake in shares of PETROLEO BRASIL/ADR by 17.1% in the first quarter. Gould Asset Management LLC CA now owns 12,250 shares of the oil and gas exploration company’s stock valued at $195,000 after purchasing an additional 1,785 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of PETROLEO BRASIL/ADR by 7.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 37,408 shares of the oil and gas exploration company’s stock valued at $487,000 after purchasing an additional 2,493 shares in the last quarter. AGF Investments Inc. raised its stake in shares of PETROLEO BRASIL/ADR by 4.0% in the first quarter. AGF Investments Inc. now owns 95,299 shares of the oil and gas exploration company’s stock valued at $1,517,000 after purchasing an additional 3,663 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of PETROLEO BRASIL/ADR by 33.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,000 shares of the oil and gas exploration company’s stock valued at $260,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 7.08% of the company’s stock.

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PETROLEO BRASIL/ADR Company Profile (NYSE:PBR)

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

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