Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Reaches New 12-Month Low – Here’s Why

Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.83 and last traded at $12.89, with a volume of 15429700 shares changing hands. The stock had previously closed at $13.52.

Analyst Ratings Changes

PBR has been the subject of a number of research analyst reports. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $20.00 in a report on Monday, August 26th. The Goldman Sachs Group raised their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their price target for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Trading Down 5.0 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. The stock has a market cap of $83.74 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 0.22 and a beta of 1.41. The company’s 50 day simple moving average is $14.03 and its two-hundred day simple moving average is $14.44.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a — dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.5338 per share. This represents a dividend yield of 18.8%. The ex-dividend date of this dividend is Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 65.23%.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Large investors have recently made changes to their positions in the company. Fisher Asset Management LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 13.1% in the third quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock valued at $227,961,000 after acquiring an additional 1,835,297 shares during the last quarter. Mondrian Investment Partners LTD raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% during the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after purchasing an additional 1,889,313 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at $141,372,000. Encompass Capital Advisors LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the second quarter worth $73,174,000. Finally, Victory Capital Management Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 38.4% during the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after buying an additional 1,039,700 shares during the last quarter.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.