Petrobras (NYSE:PBR) was the recipient of a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 31,852,014 shares, a decline of 14.6% from the March 15th total of 37,313,496 shares. Based on an average daily trading volume, of 14,113,058 shares, the short-interest ratio is presently 2.3 days. Approximately 0.9% of the company’s shares are sold short.

A number of hedge funds have recently modified their holdings of PBR. Nationwide Fund Advisors grew its stake in Petrobras by 54.9% in the third quarter. Nationwide Fund Advisors now owns 201,417 shares of the oil and gas exploration company’s stock worth $2,022,000 after purchasing an additional 71,417 shares during the period. Janus Henderson Group PLC grew its stake in Petrobras by 0.3% in the third quarter. Janus Henderson Group PLC now owns 5,598,345 shares of the oil and gas exploration company’s stock worth $56,207,000 after purchasing an additional 17,898 shares during the period. Point72 Asset Management L.P. purchased a new stake in Petrobras in the third quarter worth $6,239,000. KCS Wealth Advisory purchased a new stake in Petrobras in the fourth quarter worth $136,000. Finally, APG Asset Management N.V. grew its stake in Petrobras by 15.8% in the fourth quarter. APG Asset Management N.V. now owns 1,644,700 shares of the oil and gas exploration company’s stock worth $14,094,000 after purchasing an additional 225,000 shares during the period. 6.08% of the stock is currently owned by institutional investors.

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Several research firms have recently issued reports on PBR. ValuEngine raised Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Credit Suisse Group reissued a “hold” rating and set a $15.00 target price on shares of Petrobras in a research note on Monday, March 12th. Zacks Investment Research raised Petrobras from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, January 2nd. HSBC cut Petrobras from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Goldman Sachs raised Petrobras from a “sell” rating to a “neutral” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.00.

PBR opened at $13.42 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.55 and a current ratio of 1.89. Petrobras has a 52-week low of $7.61 and a 52-week high of $14.93. The company has a market cap of $90,398.36, a PE ratio of 19.17 and a beta of 2.42.

Petrobras (NYSE:PBR) last posted its earnings results on Thursday, March 15th. The oil and gas exploration company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $23.57 billion for the quarter, compared to analysts’ expectations of $26.32 billion. Petrobras had a positive return on equity of 4.13% and a negative net margin of 0.10%. equities analysts anticipate that Petrobras will post 1.39 EPS for the current year.

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Petrobras Company Profile

PetrĂ³leo 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.

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