Investors Buy High Volume of Call Options on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) saw unusually large options trading activity on Wednesday. Stock traders acquired 61,765 call options on the company. This is an increase of 48% compared to the average daily volume of 41,670 call options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Insigneo Advisory Services LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 0.4% in the third quarter. Insigneo Advisory Services LLC now owns 210,974 shares of the oil and gas exploration company’s stock valued at $2,671,000 after buying an additional 780 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% in the 4th quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock valued at $388,000 after acquiring an additional 829 shares during the last quarter. Drum Hill Capital LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.7% in the third quarter. Drum Hill Capital LLC now owns 132,914 shares of the oil and gas exploration company’s stock worth $1,683,000 after acquiring an additional 866 shares during the period. Whipplewood Advisors LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 45.7% in the second quarter. Whipplewood Advisors LLC now owns 2,875 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 902 shares during the period. Finally, World Investment Advisors raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 6.7% during the third quarter. World Investment Advisors now owns 15,322 shares of the oil and gas exploration company’s stock worth $194,000 after purchasing an additional 961 shares during the last quarter.

Analysts Set New Price Targets

PBR has been the subject of several research reports. The Goldman Sachs Group upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, UBS Group upped their price objective on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.98.

Petroleo Brasileiro S.A.- Petrobras Trading Up 3.2%

Petroleo Brasileiro S.A.- Petrobras stock opened at $15.83 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82. The stock has a market cap of $101.98 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.31 and a beta of 0.49. The stock has a 50-day moving average of $12.97 and a two-hundred day moving average of $12.61. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $16.03.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be paid a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 21.30%.

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.