Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was the recipient of a large drop in short interest during the month of October. As of October 13th, there was short interest totalling 31,761,024 shares, a drop of 8.8% from the September 29th total of 34,827,492 shares. Based on an average daily trading volume, of 12,167,645 shares, the short-interest ratio is presently 2.6 days. Currently, 0.9% of the company’s shares are sold short.

A number of research analysts have commented on the company. Societe Generale lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and increased their price objective for the company from $10.51 to $11.00 in a research report on Wednesday, October 18th. Zacks Investment Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Barclays PLC set a $10.00 price objective on Petroleo Brasileiro S.A.- Petrobras and gave the stock a “sell” rating in a research note on Tuesday, October 10th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Wednesday, October 4th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Hold” and an average target price of $10.47.

A number of large investors have recently added to or reduced their stakes in PBR. Janus Henderson Group PLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter worth $44,588,000. State of Wisconsin Investment Board raised its position in Petroleo Brasileiro S.A.- Petrobras by 11,224.8% in the third quarter. State of Wisconsin Investment Board now owns 5,425,589 shares of the oil and gas exploration company’s stock worth $54,473,000 after acquiring an additional 5,377,680 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 955.6% in the second quarter. Acadian Asset Management LLC now owns 4,066,630 shares of the oil and gas exploration company’s stock valued at $32,491,000 after buying an additional 3,681,383 shares in the last quarter. Horseman Capital Management Ltd purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at $25,000,000. Finally, Balyasny Asset Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at $11,825,000. Hedge funds and other institutional investors own 5.68% of the company’s stock.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) opened at $10.69 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.66 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $70.44 billion, a PE ratio of 17.14 and a beta of 2.44.

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