Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 1-Year High – Should You Buy?

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

Analyst Upgrades and Downgrades

PBR has been the topic of several research analyst reports. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Wall Street Zen downgraded 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. boosted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Finally, UBS Group upped their target price on 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. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

The company has a 50-day moving average of $21.65 and a 200-day moving average of $19.83. The stock has a market capitalization of $142.27 billion, a price-to-earnings ratio of 5.59, a P/E/G ratio of 2.34 and a beta of 0.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Carrhae Capital LLP purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $87,456,000. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at about $1,027,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $12,175,000. Franchise GP Ltd bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at about $17,660,000. Finally, The Manufacturers Life Insurance Company bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $2,074,000.

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.