Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 1-Year High - Should You Buy?

Key Points

• Petrobras shares hit a new 52-week high, reaching $24.20 before trading near $23.98, significantly above the prior close of $21.65.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and two rate it Hold, resulting in a “Moderate Buy” consensus, though the average price target of $21.16 is below the current price.
• The company announced a special $0.2649-per-share dividend payable December 1, while Petrobras trades at a low 6.11 P/E ratio and has a dividend payout ratio of 10.86%.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $24.20 and last traded at $23.9830, with a volume of 9304163 shares changing hands. The stock had previously closed at $21.65.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PBR shares. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. UBS Group raised their price objective on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. upped their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of "Moderate Buy" and an average price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The firm has a market cap of $155.61 billion, a P/E ratio of 6.11, a PEG ratio of 0.85 and a beta of 0.29. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The company's 50-day moving average is $19.59 and its two-hundred day moving average is $19.29.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

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

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

Several hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at approximately $31,000. Ascentis Independent Advisors bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $51,000. Harbor Investment Advisory LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $54,000. Vestor Capital LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $119,000. Finally, Inspire Investing LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 8.8% in the first quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company's stock worth $147,000 after purchasing an additional 574 shares during the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil's pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.

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