Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Reaches New 12-Month High Following Analyst Upgrade

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reached a new 52-week high on Wednesday after The Goldman Sachs Group raised their price target on the stock from $13.10 to $15.00. The Goldman Sachs Group currently has a buy rating on the stock. Petroleo Brasileiro S.A.- Petrobras traded as high as $15.97 and last traded at $15.9930, with a volume of 14587049 shares trading hands. The stock had previously closed at $15.33.

Other equities research analysts have also recently issued research reports about the company. UBS Group upped their price target on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.98.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Insigneo Advisory Services LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 0.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 210,974 shares of the oil and gas exploration company’s stock valued at $2,671,000 after buying an additional 780 shares during the last quarter. Truist Financial Corp lifted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% in the fourth quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock valued at $388,000 after acquiring an additional 829 shares in the last quarter. Drum Hill Capital LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.7% during the third quarter. Drum Hill Capital LLC now owns 132,914 shares of the oil and gas exploration company’s stock valued at $1,683,000 after acquiring an additional 866 shares during the last quarter. Whipplewood Advisors LLC increased its position in Petroleo Brasileiro S.A.- Petrobras by 45.7% during the 2nd quarter. Whipplewood Advisors LLC now owns 2,875 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 902 shares in the last quarter. Finally, World Investment Advisors increased its position in Petroleo Brasileiro S.A.- Petrobras by 6.7% during the 3rd quarter. World Investment Advisors now owns 15,322 shares of the oil and gas exploration company’s stock worth $194,000 after purchasing an additional 961 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Up 3.2%

The stock has a market cap of $101.98 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 0.31 and a beta of 0.49. The company has a current ratio of 0.82, a quick ratio of 0.57 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $12.97 and its two-hundred day moving average is $12.61.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, December 26th will be issued 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 21.76%.

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.