Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 12-Month High – Should You Buy?

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

Analyst Ratings Changes

Several analysts recently issued reports on PBR shares. 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. Wall Street Zen cut Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. lifted their target price 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. Finally, Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The stock’s 50-day simple moving average is $20.88 and its 200-day simple moving average is $19.65. The stock has a market cap of $167.33 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 2.32 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be paid a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is 10.86%.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 6.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 58,593 shares of the oil and gas exploration company’s stock valued at $1,223,000 after acquiring an additional 3,377 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 105.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 83,087 shares of the oil and gas exploration company’s stock worth $1,747,000 after purchasing an additional 42,604 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 18.6% during the 3rd quarter. Annex Advisory Services LLC now owns 2,589,233 shares of the oil and gas exploration company’s stock worth $54,037,000 after purchasing an additional 406,268 shares in the last quarter. Franchise GP Ltd bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter worth $17,660,000. Finally, Ellsworth Advisors LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the third quarter. Ellsworth Advisors LLC now owns 381,919 shares of the oil and gas exploration company’s stock worth $7,971,000 after purchasing an additional 1,949 shares during the period.

About Petroleo Brasileiro S.A.- Petrobras

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.