Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 52-Week High – Here’s What Happened

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $20.28 and last traded at $20.2550, with a volume of 5803750 shares. The stock had previously closed at $19.82.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on 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 reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. Jefferies Financial Group cut shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and cut their price objective for the company from $20.30 to $19.00 in a research report on Friday, March 13th. UBS Group increased their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras has an average rating of “Hold” and an average target price of $16.20.

Petroleo Brasileiro S.A.- Petrobras Stock Up 2.1%

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 company has a 50-day simple moving average of $16.59 and a 200 day simple moving average of $13.79. The company has a market cap of $133.82 billion, a P/E ratio of 6.83, a P/E/G ratio of 0.20 and a beta of 0.51.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share for the quarter. The business had revenue of $23.61 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 24.26% and a net margin of 22.01%. On average, equities analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

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 paid a $0.1191 dividend. The ex-dividend date of this dividend is Friday, April 24th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 11.51%.

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

Large investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth approximately $26,000. Clearstead Advisors LLC raised its stake in shares of 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 acquiring an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of 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 valued at $30,000 after purchasing 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 fourth quarter valued at approximately $39,000. Finally, BNP Paribas grew its stake in Petroleo Brasileiro S.A.- Petrobras by 241.9% in the third quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company’s stock worth $54,000 after purchasing an additional 3,000 shares in the last quarter.

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.