Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 12-Month High on Analyst Upgrade

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)’s stock price reached a new 52-week high during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $13.10 to $15.00. The Goldman Sachs Group currently has a buy rating on the stock. Petroleo Brasileiro S.A.- Petrobras traded as high as $15.97 and last traded at $15.9930, with a volume of 14587049 shares. The stock had previously closed at $15.33.

A number of other equities analysts have also issued reports on the company. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. UBS Group increased their price objective on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a “buy” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.98.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PBR. Financial Gravity Companies Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at $26,000. GHP Investment Advisors Inc. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 4th quarter valued at about $26,000. Clearstead Advisors LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 1,706 shares during the period. Geneos Wealth Management Inc. boosted its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% during 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 purchasing an additional 1,044 shares in the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 45.7% in the second quarter. Whipplewood Advisors LLC now owns 2,875 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 902 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The company has a market capitalization of $101.72 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.31 and a beta of 0.49. The firm has a fifty day simple moving average of $12.91 and a 200 day simple moving average of $12.59. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.57.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, December 26th will be given a dividend of $0.0658 per share. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is currently 21.76%.

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.