Brokerages Expect Petroleo Brasileiro S.A.- Petrobras (PBR) Will Announce Quarterly Sales of $22.82 Billion

Equities analysts expect Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) to report sales of $22.82 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Petroleo Brasileiro S.A.- Petrobras’ earnings. The highest sales estimate is $24.91 billion and the lowest is $20.73 billion. Petroleo Brasileiro S.A.- Petrobras posted sales of $21.69 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 9th.

On average, analysts expect that Petroleo Brasileiro S.A.- Petrobras will report full-year sales of $22.82 billion for the current year, with estimates ranging from $80.76 billion to $95.51 billion. For the next fiscal year, analysts forecast that the firm will post sales of $90.97 billion per share, with estimates ranging from $67.05 billion to $122.22 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Petroleo Brasileiro S.A.- Petrobras.

A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank AG upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Tuesday, August 15th. Finally, Credit Suisse Group set a $12.00 price target on shares of Petroleo Brasileiro S.A.- Petrobras and gave the stock a “buy” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.51.

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Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) traded down 3.16% on Thursday, hitting $9.80. 17,266,239 shares of the stock were exchanged. The stock’s market cap is $36.47 billion. The company’s 50 day moving average is $8.93 and its 200 day moving average is $9.02. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $7.61 and a 1-year high of $12.56.

Several institutional investors have recently added to or reduced their stakes in the stock. EFG Asset Management Americas Corp. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $100,000. IHT Wealth Management LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $103,000. D.A. Davidson & CO. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 276.6% during the 2nd quarter. D.A. Davidson & CO. now owns 13,402 shares of the oil and gas exploration company’s stock worth $107,000 after purchasing an additional 9,843 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $110,000. Finally, Jacobi Capital Management LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 585.5% during the 1st quarter. Jacobi Capital Management LLC now owns 11,585 shares of the oil and gas exploration company’s stock worth $113,000 after purchasing an additional 9,895 shares during the last quarter. 5.71% of the stock is owned by institutional investors and hedge funds.

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