PETROLEO BRASIL/ADR (NYSE:PBR) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 31,077,700 shares, a decline of 10.2% from the May 30th total of 34,594,500 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 16,530,000 shares, the short-interest ratio is currently 1.9 days.
PBR has been the topic of several research analyst reports. Credit Suisse Group upgraded shares of J M Smucker from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $96.00 to $120.00 in a report on Monday, April 8th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America set a $225.00 price objective on shares of Tesla and gave the company a “sell” rating in a report on Wednesday, July 3rd. Goldman Sachs Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Thursday. Finally, ValuEngine upgraded shares of YY from a “sell” rating to a “hold” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.19.
NYSE PBR traded up $0.14 during trading on Friday, hitting $16.83. The stock had a trading volume of 19,439,935 shares, compared to its average volume of 17,178,470. The company has a market capitalization of $109.77 billion, a P/E ratio of 11.77 and a beta of 1.48. 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 business’s 50 day moving average is $15.42. PETROLEO BRASIL/ADR has a twelve month low of $10.16 and a twelve month high of $17.90.
PETROLEO BRASIL/ADR (NYSE:PBR) last released its earnings results on Thursday, May 2nd. The oil and gas exploration company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). The firm had revenue of $21.23 billion during the quarter, compared to analyst estimates of $21.65 billion. PETROLEO BRASIL/ADR had a net margin of 6.50% and a return on equity of 10.35%. On average, equities research analysts forecast that PETROLEO BRASIL/ADR will post 1.3 EPS for the current year.
The company also recently announced a special dividend, which will be paid on Monday, July 15th. Shareholders of record on Thursday, May 23rd will be given a $0.0509 dividend. This is an increase 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 payout ratio is currently 11.19%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC purchased a new stake in shares of PETROLEO BRASIL/ADR during the second quarter worth approximately $786,000. Exane Derivatives raised its stake in shares of PETROLEO BRASIL/ADR by 87.6% during the second quarter. Exane Derivatives now owns 214,648 shares of the oil and gas exploration company’s stock worth $3,341,000 after purchasing an additional 100,237 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of PETROLEO BRASIL/ADR by 190.4% during the first quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock worth $79,000 after purchasing an additional 3,246 shares during the last quarter. TCW Group Inc. raised its stake in shares of PETROLEO BRASIL/ADR by 61.8% during the first quarter. TCW Group Inc. now owns 59,700 shares of the oil and gas exploration company’s stock worth $950,000 after purchasing an additional 22,800 shares during the last quarter. Finally, Crosspoint Capital Strategies LLC purchased a new stake in shares of PETROLEO BRASIL/ADR during the first quarter worth approximately $1,473,000. 7.23% of the stock is owned by institutional investors.
About PETROLEO BRASIL/ADR
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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