Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 12-Month High – Still a Buy?

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reached a new 52-week high during trading on Monday. The stock traded as high as $25.65 and last traded at $25.4960, with a volume of 60,909 shares traded. The stock had previously closed at $25.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group boosted their target price on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. raised their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Finally, Wall Street Zen lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The business’s 50 day simple moving average is $20.43 and its two-hundred day simple moving average is $19.54. The firm has a market capitalization of $164.17 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.00 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 10.86%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Hedge funds have recently bought and sold shares of the company. Artemis Investment Management LLP grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 4.2% during the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock valued at $138,640,000 after purchasing an additional 270,422 shares during the period. Oaktree Capital Management LP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $126,355,000. Carrhae Capital LLP bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $87,456,000. DJE Kapital AG bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $42,858,000.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.