Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Announces Earnings Results, Beats Expectations By $0.03 EPS

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) posted its quarterly earnings data on Thursday. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03, Zacks reports. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%.The business had revenue of $23.48 billion for the quarter, compared to analysts’ expectations of $125.50 billion.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR traded up $0.73 on Friday, hitting $12.87. The company’s stock had a trading volume of 53,608,168 shares, compared to its average volume of 21,800,799. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $15.10. The firm has a market cap of $82.91 billion, a P/E ratio of 6.01 and a beta of 0.83. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company’s 50 day simple moving average is $12.28 and its 200-day simple moving average is $12.22.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PBR shares. UBS Group cut their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a report on Friday, August 22nd. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.43.

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Focus Partners Wealth lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.0% during the 1st quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock worth $296,000 after purchasing an additional 1,356 shares in the last quarter. Tidal Investments LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 5.8% in the 2nd quarter. Tidal Investments LLC now owns 49,067 shares of the oil and gas exploration company’s stock worth $614,000 after purchasing an additional 2,685 shares during the period. Cresset Asset Management LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 55.9% during the 2nd quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock valued at $201,000 after buying an additional 5,624 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in Petroleo Brasileiro S.A.- Petrobras by 20.9% during the 2nd quarter. Advisory Services Network LLC now owns 40,829 shares of the oil and gas exploration company’s stock valued at $520,000 after buying an additional 7,071 shares in the last quarter.

About Petroleo 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.