Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 12-Month High – Here’s Why

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $17.17 and last traded at $17.2160, with a volume of 10099967 shares changing hands. The stock had previously closed at $16.63.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PBR. UBS Group upped their price target on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a report on Wednesday, January 14th. The Goldman Sachs Group increased their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.98.

Petroleo Brasileiro S.A.- Petrobras Stock Down 2.0%

The firm has a market capitalization of $109.36 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 0.30 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82. The business’s 50-day moving average is $14.08 and its two-hundred day moving average is $12.96.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be paid a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 18.52%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 11,680 shares during the last quarter. Focus Partners Wealth raised its stake in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the 1st quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after acquiring an additional 1,356 shares during the period. Arkadios Wealth Advisors raised its stake in Petroleo Brasileiro S.A.- Petrobras by 46.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 16,711 shares of the oil and gas exploration company’s stock valued at $209,000 after acquiring an additional 5,290 shares during the period. Fullcircle Wealth LLC lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 17.1% during the 2nd quarter. Fullcircle Wealth LLC now owns 14,525 shares of the oil and gas exploration company’s stock valued at $185,000 after purchasing an additional 2,125 shares during the last quarter. Finally, Savant Capital LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $140,000.

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.