Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Hits New 1-Year High – Here’s Why

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) hit a new 52-week high on Monday . The stock traded as high as $19.29 and last traded at $19.1650, with a volume of 22133801 shares trading hands. The stock had previously closed at $18.57.

Analysts Set New Price Targets

PBR has been the subject of a number of recent research reports. Wall Street Zen lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group lifted their target price 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Jefferies Financial Group cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their price objective for the company from $20.30 to $19.00 in a research note on Friday. Finally, UBS Group upped their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.20.

Petroleo Brasileiro S.A.- Petrobras Stock Up 3.0%

The stock has a 50-day moving average of $15.07 and a 200 day moving average of $13.29. The company has a market capitalization of $123.31 billion, a PE ratio of 6.30, a P/E/G ratio of 0.18 and a beta of 0.51. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, May 28th. Investors of record on Friday, April 24th will be issued a $0.1191 dividend. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 13.16%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several hedge funds have recently added to or reduced their stakes in PBR. Financial Gravity Companies Inc. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $26,000. GHP Investment Advisors Inc. bought a new position in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at $26,000. Clearstead Advisors LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,706 shares during the period. Geneos Wealth Management Inc. increased its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 1,044 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $39,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.