Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR – Get Free Report) saw some unusual options trading activity on Monday. Investors acquired 372,311 call options on the stock. This is an increase of approximately 758% compared to the average daily volume of 43,402 call options.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of “Moderate Buy” and a consensus target price of $19.28.
Check Out Our Latest Research Report on PBR
Petroleo Brasileiro S.A.- Petrobras Price Performance
Petroleo Brasileiro S.A.- Petrobras Dividend Announcement
The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be paid a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 8.33%.
Institutional Trading of Petroleo Brasileiro S.A.- Petrobras
Several institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.8% in the first quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock valued at $147,000 after purchasing an additional 574 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company’s stock valued at $501,000 after purchasing an additional 696 shares in the last quarter. Drum Hill Capital LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the 1st quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company’s stock valued at $2,746,000 after purchasing an additional 714 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% during the 4th quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock valued at $388,000 after buying an additional 829 shares during the last quarter. Finally, Ascent Group LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 5.9% during the 2nd quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company’s stock valued at $254,000 after buying an additional 868 shares during the last quarter.
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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