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

Key Points

• Petrobras reached a new 52-week high, trading as high as $25.65 and most recently near $25.50, well above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive: six analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus. However, the average price target of $20.97 is below the current share price.
• Petrobras declared a special dividend of $0.2649 per share, payable December 1, while reporting a low payout ratio of 10.61%.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) reached a new 52-week high on Monday. The stock traded as high as $25.65 and last traded at $25.4960, with a volume of 60,909 shares traded. The stock had previously closed at $25.30.

Analyst Upgrades and Downgrades

PBR has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a 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 report on Monday, August 31st. Finally, UBS Group boosted 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. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

The company has a market capitalization of $165.65 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.99 and a beta of 0.29. The company's fifty day simple moving average is $20.17 and its two-hundred day simple moving average is $19.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is currently 10.61%.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

Several institutional investors and hedge funds have recently bought and sold shares of PBR. Inspire Investing LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 8.8% during the 1st quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company's stock worth $147,000 after buying an additional 574 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Petroleo Brasileiro S.A.- Petrobras by 3.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company's stock worth $501,000 after purchasing an additional 696 shares during the last quarter. Drum Hill Capital LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the first quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company's stock valued at $2,746,000 after purchasing an additional 714 shares during the period. Ascent Group LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 5.9% during the second quarter. Ascent Group LLC now owns 15,689 shares of the oil and gas exploration company's stock valued at $254,000 after buying an additional 868 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 8.7% during the first quarter. McIlrath & Eck LLC now owns 12,267 shares of the oil and gas exploration company's stock worth $255,000 after buying an additional 980 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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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