Petroleo Brasileiro S.A.- Petrobras Target of Unusually High Options Trading (NYSE:PBR)

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was the recipient of some unusual options trading on Thursday. Traders acquired 63,480 put options on the company. This represents an increase of 26% compared to the average volume of 50,510 put options.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR traded down $0.13 on Thursday, reaching $20.73. The stock had a trading volume of 8,927,258 shares, compared to its average volume of 22,563,271. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $22.24. The firm has a market capitalization of $133.57 billion, a PE ratio of 5.24, a PEG ratio of 0.80 and a beta of 0.32. The firm has a 50-day moving average of $18.01 and a 200 day moving average of $18.67. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is 10.86%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and an average target price of $19.48.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Capital International Investors raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% during the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after buying an additional 10,425,563 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $126,355,000. DJE Kapital AG acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at about $65,428,000. Public Employees Retirement System of Ohio acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at about $42,858,000. Finally, DNB Asset Management AS purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter valued at about $21,778,000.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.