Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Sets New 12-Month High - Should You Buy?

Key Points

• Petrobras shares reached a new 52-week high of $26.11, while the stock’s valuation remained relatively low at a P/E ratio of 6.54 and its market capitalization stood at approximately $167.3 billion.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating, though the average price target of $20.97 is below the recent trading price.
• Petrobras declared a special dividend of $0.2649 per share, payable December 1, while several institutional investors increased their holdings during the third quarter.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $26.11 and last traded at $25.9830, with a volume of 92,971 shares traded. The stock had previously closed at $26.00.

Wall Street Analysts Forecast Growth

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

Petroleo Brasileiro S.A.- Petrobras Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The company has a fifty day moving average price of $20.88 and a two-hundred day moving average price of $19.65. The company has a market cap of $167.33 billion, a P/E ratio of 6.54, a PEG ratio of 2.32 and a beta of 0.29.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, August 25th will be paid a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is currently 10.86%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 6.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 58,593 shares of the oil and gas exploration company's stock worth $1,223,000 after buying an additional 3,377 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 105.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 83,087 shares of the oil and gas exploration company's stock valued at $1,747,000 after acquiring an additional 42,604 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 18.6% during the third quarter. Annex Advisory Services LLC now owns 2,589,233 shares of the oil and gas exploration company's stock worth $54,037,000 after acquiring an additional 406,268 shares during the period. Franchise GP Ltd acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at approximately $17,660,000. Finally, Ellsworth Advisors LLC grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the third quarter. Ellsworth Advisors LLC now owns 381,919 shares of the oil and gas exploration company's stock valued at $7,971,000 after purchasing an additional 1,949 shares during the last quarter.

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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