Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PBR shares. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group boosted their price objective on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, April 10th. Finally, UBS Group boosted their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Price Performance

The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 0.76. The company has a market cap of $141.03 billion, a PE ratio of 7.20, a P/E/G ratio of 0.91 and a beta of 0.38. The stock has a 50-day simple moving average of $19.53 and a 200 day simple moving average of $15.17.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 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 for the quarter. Equities analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.18 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Friday, April 24th will be given a $0.1191 dividend. The ex-dividend date is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 10.86%.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBR. GHP Investment Advisors Inc. purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at $26,000. Clearstead Advisors LLC raised its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% in 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. raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,044 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at $39,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $51,000.

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.