Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded to “Buy” at HSBC

HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a hold rating to a buy rating in a research report report published on Monday morning, Marketbeat reports. HSBC currently has $18.00 price objective on the oil and gas exploration company’s stock.

Several other brokerages have also weighed in on PBR. Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an overweight rating to an equal weight rating and cut their target price for the stock from $20.00 to $18.00 in a research report on Monday, March 11th. Bank of America lowered Petróleo Brasileiro S.A. – Petrobras from a buy rating to a neutral rating and set a $16.00 price objective on the stock. in a research report on Friday, March 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Up 1.9 %

Shares of PBR opened at $15.21 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $16.33 and its 200 day simple moving average is $15.73. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $10.01 and a twelve month high of $17.91.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several large investors have recently modified their holdings of PBR. Raymond James & Associates grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 58.3% during the first quarter. Raymond James & Associates now owns 142,949 shares of the oil and gas exploration company’s stock valued at $2,116,000 after acquiring an additional 52,626 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 117.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 48,997 shares of the oil and gas exploration company’s stock valued at $725,000 after acquiring an additional 26,512 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter valued at about $801,000. Private Advisor Group LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the first quarter valued at about $320,000. Finally, Allianz Asset Management GmbH acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the first quarter worth about $11,529,000.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.