PETROLEO BRASIL/ADR (PBR) Short Interest Update

PETROLEO BRASIL/ADR (NYSE:PBR) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 27,107,804 shares, a drop of 29.1% from the January 15th total of 38,226,228 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 15,536,081 shares, the days-to-cover ratio is presently 1.7 days.

PBR has been the subject of a number of recent analyst reports. Barclays downgraded shares of PETROLEO BRASIL/ADR from an “overweight” rating to an “underweight” rating and set a $17.00 price target for the company. in a research report on Thursday, January 10th. Credit Suisse Group reissued a “hold” rating and set a $15.00 price target on shares of PETROLEO BRASIL/ADR in a research report on Thursday, January 31st. UBS Group raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley raised shares of PETROLEO BRASIL/ADR from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Tuesday, October 23rd. Finally, ValuEngine upgraded PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.48.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp bought a new position in PETROLEO BRASIL/ADR during the fourth quarter worth $170,000. Hudson Bay Capital Management LP bought a new position in PETROLEO BRASIL/ADR during the fourth quarter worth $2,031,000. Nomura Asset Management Co. Ltd. lifted its stake in PETROLEO BRASIL/ADR by 25.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 69,135 shares of the oil and gas exploration company’s stock worth $899,000 after purchasing an additional 14,056 shares during the last quarter. Newfoundland Capital Management lifted its stake in PETROLEO BRASIL/ADR by 1.2% during the fourth quarter. Newfoundland Capital Management now owns 1,374,881 shares of the oil and gas exploration company’s stock worth $17,928,000 after purchasing an additional 16,481 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC bought a new position in PETROLEO BRASIL/ADR during the fourth quarter worth $202,000. Hedge funds and other institutional investors own 6.68% of the company’s stock.

Shares of PBR opened at $16.26 on Thursday. PETROLEO BRASIL/ADR has a 12-month low of $9.02 and a 12-month high of $17.20. The firm has a market cap of $105.66 billion, a P/E ratio of 23.23 and a beta of 1.60. The company has a current ratio of 1.60, a quick ratio of 1.18 and a debt-to-equity ratio of 1.14.

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About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

Read More: Return on Equity (ROE)

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