Petroleo Brasileiro S.A. – Petrobras [PBR] moved up 1.66: Why It’s Important

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Petroleo Brasileiro S.A. – Petrobras [NYSE: PBR] gained 1.66% on the last trading session, reaching $11.01 price per share at the time. The company report on December 9, 2021 that TechnipFMC Awarded Flexible Pipe Frame Agreements by Petrobras in Brazil.

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TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded three frame agreements by Petrobras (NYSE: PBR) that reaffirm the Company’s leadership position in Brazil’s flexible pipe market – the industry’s largest and most established market. Altogether, the frame agreements form a large(1) contract for TechnipFMC.

Petroleo Brasileiro S.A. – Petrobras represents 6.52 billion in outstanding shares, while the company has a total market value of $67.39 billion with the latest information. PBR stock price has been found in the range of $10.82 to $11.045.

If compared to the average trading volume of 28.52M shares, PBR reached a trading volume of 22347045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Petroleo Brasileiro S.A. – Petrobras [PBR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PBR shares is $13.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PBR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Petroleo Brasileiro S.A. – Petrobras shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 16, 2021. The new note on the price target was released on October 14, 2021, representing the official price target for Petroleo Brasileiro S.A. – Petrobras stock. Previously, the target price had yet another raise from $15.50 to $16, while Scotiabank kept a Sector Outperform rating on PBR stock.

The Average True Range (ATR) for Petroleo Brasileiro S.A. – Petrobras is set at 0.32, with the Price to Sales ratio for PBR stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 1.79. Price to Free Cash Flow for PBR in the course of the last twelve months was 3.08 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for PBR stock

Petroleo Brasileiro S.A. – Petrobras [PBR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.27. With this latest performance, PBR shares dropped by -2.65% in over the last four-week period, additionally plugging by 3.40% over the last 6 months – not to mention a drop of -2.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PBR stock in for the last two-week period is set at 54.75, with the RSI for the last a single of trading hit 53.20, and the three-weeks RSI is set at 53.53 for Petroleo Brasileiro S.A. – Petrobras [PBR]. The present Moving Average for the last 50 days of trading for this stock 10.56, while it was recorded at 11.00 for the last single week of trading, and 10.32 for the last 200 days.

Petroleo Brasileiro S.A. – Petrobras [PBR]: A deeper dive into fundamental analysis

Petroleo Brasileiro S.A. – Petrobras’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

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An analysis of insider ownership at Petroleo Brasileiro S.A. – Petrobras [PBR]

There are presently around $7,788 million, or 20.40% of PBR stock, in the hands of institutional investors. The top three institutional holders of PBR stocks are: GQG PARTNERS LLC with ownership of 173,394,583, which is approximately 24.792% of the company’s market cap and around 39.80% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 95,770,837 shares of the stock with an approximate value of $1.05 billion in PBR stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $516.82 million in PBR stock with ownership of nearly -5.765% of the company’s market capitalization.

Positions in Petroleo Brasileiro S.A. – Petrobras stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 146 institutional holders increased their position in Petroleo Brasileiro S.A. – Petrobras [NYSE:PBR] by around 110,685,465 shares. Additionally, 133 investors decreased positions by around 103,270,708 shares, while 48 investors held positions by with 493,407,909 shares. The mentioned changes placed institutional holdings at 707,364,082 shares, according to the latest SEC report filing. PBR stock had 39 new institutional investments in for a total of 16,250,446 shares, while 41 institutional investors sold positions of 26,441,106 shares during the same period.