Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 12-Month High – Still a Buy?

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reached a new 52-week high during trading on Monday. The company traded as high as $26.11 and last traded at $25.9830, with a volume of 92,971 shares trading hands. The stock had previously closed at $26.00.

Analyst Upgrades and Downgrades

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

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The company has a 50-day simple moving average of $21.17 and a two-hundred day simple moving average of $19.72. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a market cap of $165.85 billion, a PE ratio of 6.50, a PEG ratio of 2.28 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.2649 per share. The ex-dividend date of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 10.86%.

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Artemis Investment Management LLP increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 4.2% in the third 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 purchasing an additional 270,422 shares in the last quarter. Oaktree Capital Management LP bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $126,355,000. Carrhae Capital LLP bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $87,456,000. DJE Kapital AG purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at approximately $65,428,000. Finally, Annex Advisory Services LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 18.6% in the 3rd quarter. Annex Advisory Services LLC now owns 2,589,233 shares of the oil and gas exploration company’s stock valued at $54,037,000 after buying an additional 406,268 shares in the last quarter.

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.