Barclays Downgrades PETROLEO BRASIL/ADR (PBR) to Underweight

Barclays cut shares of PETROLEO BRASIL/ADR (NYSE:PBR) from an overweight rating to an underweight rating in a report published on Thursday, Marketbeat Ratings reports. They currently have $17.00 target price on the oil and gas exploration company’s stock.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of PETROLEO BRASIL/ADR from a buy rating to a hold rating in a report on Wednesday, November 14th. UBS Group upgraded shares of PETROLEO BRASIL/ADR from a neutral rating to an outperform rating in a report on Monday, October 8th. Santander upgraded shares of PETROLEO BRASIL/ADR from a hold rating to a buy rating in a report on Monday, October 8th. ValuEngine upgraded shares of PETROLEO BRASIL/ADR from a sell rating to a hold rating in a report on Thursday, September 27th. Finally, Credit Suisse Group set a $15.00 target price on shares of PETROLEO BRASIL/ADR and gave the company a hold rating in a report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. PETROLEO BRASIL/ADR has a consensus rating of Hold and an average target price of $16.48.

PBR opened at $15.29 on Thursday. The stock has a market cap of $101.88 billion, a P/E ratio of 21.84 and a beta of 1.55. PETROLEO BRASIL/ADR has a twelve month low of $9.02 and a twelve month high of $17.20. The company has a current ratio of 1.60, a quick ratio of 1.18 and a debt-to-equity ratio of 1.14.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its quarterly earnings results on Tuesday, November 6th. The oil and gas exploration company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The business had revenue of $24.87 billion for the quarter, compared to analyst estimates of $24.51 billion. PETROLEO BRASIL/ADR had a return on equity of 10.11% and a net margin of 5.21%. Equities analysts predict that PETROLEO BRASIL/ADR will post 1.46 EPS for the current year.

The company also recently announced a dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 31st were issued a $0.019 dividend. The ex-dividend date was Friday, December 28th. PETROLEO BRASIL/ADR’s payout ratio is 14.29%.

A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in PETROLEO BRASIL/ADR by 32.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,495 shares of the oil and gas exploration company’s stock valued at $163,000 after purchasing an additional 3,271 shares during the last quarter. Thomas White International Ltd. raised its stake in shares of PETROLEO BRASIL/ADR by 1.6% in the 3rd quarter. Thomas White International Ltd. now owns 272,307 shares of the oil and gas exploration company’s stock valued at $3,287,000 after acquiring an additional 4,195 shares during the period. AXA raised its stake in shares of PETROLEO BRASIL/ADR by 3.1% in the 3rd quarter. AXA now owns 166,040 shares of the oil and gas exploration company’s stock valued at $2,004,000 after acquiring an additional 5,045 shares during the period. Wetherby Asset Management Inc. raised its stake in shares of PETROLEO BRASIL/ADR by 17.6% in the 3rd quarter. Wetherby Asset Management Inc. now owns 34,915 shares of the oil and gas exploration company’s stock valued at $421,000 after acquiring an additional 5,234 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of PETROLEO BRASIL/ADR by 0.3% in the 3rd quarter. Earnest Partners LLC now owns 1,846,457 shares of the oil and gas exploration company’s stock valued at $22,287,000 after acquiring an additional 5,279 shares during the period. Institutional investors own 6.67% of the company’s stock.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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