PETROLEO BRASIL/ADR (NYSE:PBR) Shares Gap Up to $14.72

PETROLEO BRASIL/ADR (NYSE:PBR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.21, but opened at $14.72. PETROLEO BRASIL/ADR shares last traded at $14.95, with a volume of 22,373,893 shares trading hands.

A number of equities analysts recently commented on PBR shares. Bank of America started coverage on PETROLEO BRASIL/ADR in a research note on Wednesday, July 3rd. They set a “buy” rating and a $21.00 price target for the company. ValuEngine lowered PETROLEO BRASIL/ADR from a “buy” rating to a “hold” rating in a research note on Thursday. Goldman Sachs Group started coverage on PETROLEO BRASIL/ADR in a research note on Thursday, July 11th. They set a “buy” rating for the company. Citigroup reissued a “buy” rating and set a $23.00 price target (up from $20.20) on shares of PETROLEO BRASIL/ADR in a research note on Monday, July 8th. Finally, Zacks Investment Research raised PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. PETROLEO BRASIL/ADR currently has an average rating of “Buy” and a consensus price target of $19.19.

The company has a market capitalization of $96.01 billion, a price-to-earnings ratio of 10.45 and a beta of 1.51. The firm’s 50 day moving average is $15.82. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 1.30.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas exploration company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $21.23 billion during the quarter, compared to the consensus estimate of $21.65 billion. PETROLEO BRASIL/ADR had a net margin of 6.50% and a return on equity of 10.35%. As a group, research analysts anticipate that PETROLEO BRASIL/ADR will post 1.15 EPS for the current year.

The business also recently disclosed a special dividend, which was paid on Monday, July 15th. Stockholders of record on Thursday, May 23rd were paid a $0.0509 dividend. This is a positive change from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date was Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio (DPR) is presently 11.19%.

Several large investors have recently bought and sold shares of the company. Investec Asset Management LTD bought a new stake in shares of PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $113,445,000. USS Investment Management Ltd lifted its stake in shares of PETROLEO BRASIL/ADR by 18.4% in the 1st quarter. USS Investment Management Ltd now owns 2,576,104 shares of the oil and gas exploration company’s stock valued at $40,999,000 after purchasing an additional 400,000 shares during the last quarter. Investec Asset Management North America Inc. bought a new stake in shares of PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $33,770,000. Thomas White International Ltd. raised its holdings in shares of PETROLEO BRASIL/ADR by 7.6% in the first quarter. Thomas White International Ltd. now owns 289,143 shares of the oil and gas exploration company’s stock worth $4,603,000 after buying an additional 20,406 shares during the period. Finally, Exane Derivatives raised its holdings in shares of PETROLEO BRASIL/ADR by 87.6% in the second quarter. Exane Derivatives now owns 214,648 shares of the oil and gas exploration company’s stock worth $3,341,000 after buying an additional 100,237 shares during the period. 7.24% of the stock is owned by institutional investors and hedge funds.

About PETROLEO BRASIL/ADR (NYSE:PBR)

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

Featured Story: What is the G-20?

Receive News & Ratings for PETROLEO BRASIL/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PETROLEO BRASIL/ADR and related companies with MarketBeat.com's FREE daily email newsletter.