Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 52-Week High – Time to Buy?

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)’s share price hit a new 52-week high on Monday . The stock traded as high as $17.17 and last traded at $17.2160, with a volume of 10099967 shares trading hands. The stock had previously closed at $16.63.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. 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. 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 report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Price Performance

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 $13.86 and a 200 day simple moving average of $12.89. The stock has a market capitalization of $109.83 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 0.29 and a beta of 0.51.

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 $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 18.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PBR. Financial Gravity Companies Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $26,000. GHP Investment Advisors Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter valued at approximately $26,000. Clearstead Advisors LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 273.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter valued at $39,000.

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.