Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 12-Month High – Here’s Why

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reached a new 52-week high on Monday . The company traded as high as $16.48 and last traded at $16.4210, with a volume of 4441549 shares. The stock had previously closed at $15.79.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. UBS Group lifted their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, The Goldman Sachs Group raised their target price on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.98.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The company’s fifty day simple moving average is $13.39 and its two-hundred day simple moving average is $12.74. The company has a market capitalization of $104.76 billion, a price-to-earnings ratio of 7.53, a price-to-earnings-growth ratio of 0.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently declared a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be paid a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is 21.76%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at approximately $26,000. GHP Investment Advisors Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth $26,000. Clearstead Advisors LLC lifted its position in shares of 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 buying an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,044 shares during the period. Finally, Whipplewood Advisors LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 45.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,875 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 902 shares during the period.

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.