Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 1-Year High on Analyst Upgrade

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) shares reached a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $15.33.

Several other research analysts also recently weighed in on the stock. UBS Group upped their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has an average rating of “Moderate Buy” and a consensus price target of $14.98.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several hedge funds have recently modified their holdings of PBR. Capital International Investors grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after buying an additional 10,425,563 shares during the last quarter. ARGA Investment Management LP boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 0.9% in the fourth quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock valued at $224,856,000 after acquiring an additional 166,472 shares in the last quarter. Mondrian Investment Partners LTD grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.1% in the fourth quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock worth $149,963,000 after purchasing an additional 1,562,473 shares during the last quarter. Earnest Partners LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 52.0% during the third quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock worth $61,685,000 after purchasing an additional 1,665,873 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the 4th quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock valued at $39,262,000 after purchasing an additional 18,100 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 0.82. The stock has a market cap of $101.72 billion, a PE 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 moving average price of $12.91 and a 200 day moving average price of $12.59.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently announced 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 of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is currently 21.76%.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo 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.