Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Hits New 52-Week High - What's Next?

Key Points

• Petrobras shares reached a new 52-week high of $26.39 during Monday trading, though the stock later traded at $22.2140. Its 50-day and 200-day moving averages were $21.65 and $19.83, respectively.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating. However, the average price target of $20.97 is below the recent trading level.
• Petrobras declared a special dividend of $0.2649 per share, payable December 1 to investors of record as of August 25. Several institutional investors, including Oaktree Capital Management and Carrhae Capital, recently established sizable positions.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $26.39 and last traded at $22.2140, with a volume of 25,119,756 shares trading hands. The stock had previously closed at $26.16.

Wall Street Analysts Forecast Growth

PBR has been the subject of several research reports. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Tuesday, September 1st. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 23rd. Finally, Wall Street Zen lowered Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 11th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Trading Down 15.6%

The firm's 50 day moving average price is $21.65 and its 200-day moving average price is $19.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The stock has a market cap of $142.27 billion, a P/E ratio of 5.59, a P/E/G ratio of 2.34 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several large investors have recently added to or reduced their stakes in the business. Oaktree Capital Management LP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $126,355,000. Carrhae Capital LLP acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at approximately $87,456,000. DJE Kapital AG purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $65,428,000. Public Employees Retirement System of Ohio acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth about $42,858,000. Finally, Franchise GP Ltd purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter valued at about $17,660,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.

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