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

Petróleo Brasileiro S.A. - Petrobras logo with Oils/Energy background

Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report) 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.

Get Our Latest Analysis on Petróleo Brasileiro S.A. - Petrobras

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

(Get Free Report)

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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