Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Hits New 52-Week High – Time to Buy?

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reached a new 52-week high on Monday. The stock traded as high as $26.39 and last traded at $22.2140, with a volume of 25,119,756 shares trading hands. The stock had previously closed at $26.16.

Analyst Upgrades and Downgrades

PBR has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Wall Street Zen downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Finally, UBS Group boosted their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Trading Down 1.0%

The stock has a 50 day moving average of $21.78 and a 200-day moving average of $18.89. The company has a market capitalization of $143.61 billion, a P/E ratio of 5.63 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 10.61%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Hedge funds and other institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 4.2% in the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock worth $138,640,000 after buying an additional 270,422 shares during the period. Oaktree Capital Management LP bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $126,355,000. RWC Asset Advisors US LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 17.7% in the third quarter. RWC Asset Advisors US LLC now owns 4,409,205 shares of the oil and gas exploration company’s stock worth $92,020,000 after acquiring an additional 662,712 shares during the period. Carrhae Capital LLP bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth about $87,456,000. Finally, DJE Kapital AG purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $65,428,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA — Petrobras is a Brazilian state-controlled, integrated energy company engaged in the exploration, development, production, refining, transportation and marketing of oil and natural gas. Founded in 1953, the company plays a central role in Brazil’s energy sector and is headquartered in Rio de Janeiro.

Petrobras produces crude oil and natural gas, with a major focus on Brazil’s deepwater and pre-salt offshore fields. Its operations also include refining and selling petroleum products such as gasoline, diesel, aviation fuel, liquefied petroleum gas and other petrochemicals.