Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Breaks Below Fifty Day Moving Average – What’s Next?

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $21.92 and traded as low as $21.47. Petroleo Brasileiro S.A.- Petrobras shares last traded at $21.9080, with a volume of 28,401,474 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on PBR. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. upped their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The company has a market cap of $142.16 billion, a P/E ratio of 5.57, a P/E/G ratio of 1.96 and a beta of 0.29. The company’s 50-day moving average price is $21.98 and its 200-day moving average price is $19.04.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business 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 dividend of $0.2649 per share. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 10.61%.

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of hedge funds have recently added to or reduced their stakes in PBR. Ameritas Advisory Services LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth approximately $31,000. Ascentis Independent Advisors bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $51,000. Harbor Investment Advisory LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $54,000. NFSG Corp grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 153.8% in the 3rd quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 2,500 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $97,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.