Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Hits New 12-Month Low – What’s Next?

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares hit a new 52-week low on Wednesday . The stock traded as low as $12.83 and last traded at $12.89, with a volume of 15429700 shares. The stock had previously closed at $13.52.

Analysts Set New Price Targets

Several equities research analysts have commented on PBR shares. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their target price for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group lifted their price target on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The firm has a market cap of $85.05 billion, a price-to-earnings ratio of 5.09, a price-to-earnings-growth ratio of 0.22 and a beta of 1.41. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $13.96 and its 200 day moving average is $14.42.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently announced a — dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.5338 dividend. This represents a dividend yield of 18.8%. The ex-dividend date is Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 65.23%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PBR. Fisher Asset Management LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 13.1% in the third quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock valued at $227,961,000 after acquiring an additional 1,835,297 shares in the last quarter. Mondrian Investment Partners LTD boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after purchasing an additional 1,889,313 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $141,372,000. Encompass Capital Advisors LLC bought a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth approximately $73,174,000. Finally, Victory Capital Management Inc. raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 38.4% in the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after buying an additional 1,039,700 shares in the last quarter.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.