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

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) hit 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 changing hands. The stock had previously closed at $15.33.

Several other analysts have also issued reports on PBR. Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. UBS Group boosted 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 report on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and a consensus price target of $14.98.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several institutional investors and hedge funds have recently made changes to their positions in PBR. Capital International Investors lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after purchasing an additional 10,425,563 shares during the last quarter. ARGA Investment Management LP lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.9% in the 4th 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 during the last quarter. Mondrian Investment Partners LTD boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.1% during the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock valued at $149,963,000 after acquiring an additional 1,562,473 shares during the period. Earnest Partners LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 9.5% during the 4th quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock worth $63,224,000 after acquiring an additional 462,889 shares during the last quarter. Finally, Perpetual Ltd increased its stake in Petroleo Brasileiro S.A.- Petrobras by 0.5% in the 4th quarter. Perpetual Ltd now owns 3,313,257 shares of the oil and gas exploration company’s stock worth $39,262,000 after purchasing an additional 18,100 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Down 3.6%

The company has a current ratio of 0.82, a quick ratio of 0.57 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $13.01 and a 200 day simple moving average of $12.63. The firm has a market capitalization of $98.31 billion, a PE ratio of 7.06, a PEG ratio of 0.32 and a beta of 0.49.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

About Petroleo Brasileiro S.A.- Petrobras

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.