Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 1-Year High – Here’s What Happened

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) shares hit a new 52-week high during trading on Monday . The company traded as high as $18.31 and last traded at $18.30, with a volume of 15107472 shares changing hands. The stock had previously closed at $17.60.

Analyst Ratings Changes

Several brokerages have recently commented on PBR. The Goldman Sachs Group increased their target price 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, UBS Group increased 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 research report on Wednesday, January 14th. Three 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

The firm’s 50 day simple moving average is $14.39 and its two-hundred day simple moving average is $13.06. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.57. The firm has a market capitalization of $118.71 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.31 and a beta of 0.51.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, March 27th. Investors of record on Friday, December 26th will be given a dividend of $0.0658 per share. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is presently 13.16%.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

A number of institutional investors have recently made changes to their positions in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after acquiring an additional 11,680 shares in the last quarter. Focus Partners Wealth lifted its position in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the 1st quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after acquiring an additional 1,356 shares during the period. Savant Capital LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at approximately $140,000. Pekin Hardy Strauss Inc. grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 3.2% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 31,852 shares of the oil and gas exploration company’s stock worth $398,000 after buying an additional 1,000 shares during the last quarter. Finally, Prospera Financial Services Inc increased its position in Petroleo Brasileiro S.A.- Petrobras by 5.2% during the 2nd quarter. Prospera Financial Services Inc now owns 30,523 shares of the oil and gas exploration company’s stock valued at $382,000 after buying an additional 1,522 shares in the last quarter.

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.