Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Shares Up 3.7% - Here's Why

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report)'s stock price rose 3.7% during mid-day trading on Tuesday . The company traded as high as $14.39 and last traded at $14.49. Approximately 2,637,475 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 16,571,148 shares. The stock had previously closed at $13.97.

Wall Street Analyst Weigh In

Several analysts have issued reports on PBR shares. HSBC upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Hsbc Global Res upgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.81.

Petróleo Brasileiro S.A. - Petrobras Stock Down 0.0 %

The stock has a fifty day simple moving average of $13.85 and a two-hundred day simple moving average of $13.94. The firm has a market cap of $92.70 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

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Petróleo Brasileiro S.A. - Petrobras Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Friday, June 27th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.2403 per share. This represents a yield of 19%. The ex-dividend date is Tuesday, April 22nd. Petróleo Brasileiro S.A. - Petrobras's dividend payout ratio (DPR) is presently 137.93%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in Petróleo Brasileiro S.A. - Petrobras by 143.5% during the third quarter. Cerity Partners LLC now owns 32,041 shares of the oil and gas exploration company's stock valued at $462,000 after buying an additional 18,883 shares during the period. FORA Capital LLC purchased a new stake in shares of Petróleo Brasileiro S.A. - Petrobras in the 3rd quarter valued at about $408,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Petróleo Brasileiro S.A. - Petrobras during the 3rd quarter valued at about $141,372,000. Financial Counselors Inc. grew its holdings in shares of Petróleo Brasileiro S.A. - Petrobras by 54.1% during the third quarter. Financial Counselors Inc. now owns 32,784 shares of the oil and gas exploration company's stock worth $472,000 after purchasing an additional 11,507 shares in the last quarter. Finally, Centric Wealth Management increased its position in shares of Petróleo Brasileiro S.A. - Petrobras by 30.0% in the third quarter. Centric Wealth Management now owns 112,699 shares of the oil and gas exploration company's stock worth $1,510,000 after purchasing an additional 26,000 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.