Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Hits New 1-Year High – Still a Buy?

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) hit a new 52-week high on Thursday . The company traded as high as $22.09 and last traded at $22.0450, with a volume of 13512382 shares changing hands. The stock had previously closed at $21.85.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PBR shares. Weiss Ratings restated a “hold (c)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, April 10th. The Goldman Sachs Group boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. UBS Group boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Finally, Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.9%

The firm has a market cap of $142.07 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 0.86 and a beta of 0.37. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $19.40 and a 200-day moving average of $15.12.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%.The company had revenue of $23.61 billion during the quarter. As a group, sell-side analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.18 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Friday, April 24th will be given a dividend of $0.1191 per share. The ex-dividend date is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 10.53%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its position in Petroleo Brasileiro S.A.- Petrobras by 20.9% during the 3rd quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company’s stock worth $34,213,000 after acquiring an additional 467,737 shares during the period. ARGA Investment Management LP boosted its position in Petroleo Brasileiro S.A.- Petrobras by 70.4% during the 3rd quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock worth $238,118,000 after acquiring an additional 7,772,595 shares during the period. J. Safra Sarasin Holding AG acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter worth $1,342,000. North of South Capital LLP boosted its position in Petroleo Brasileiro S.A.- Petrobras by 150.9% during the 3rd quarter. North of South Capital LLP now owns 285,373 shares of the oil and gas exploration company’s stock worth $3,613,000 after acquiring an additional 171,649 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Petroleo Brasileiro S.A.- Petrobras by 8.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,969,030 shares of the oil and gas exploration company’s stock worth $24,928,000 after acquiring an additional 151,300 shares during the period.

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.