UBS Group Issues Positive Forecast for Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Price

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) had its price target boosted by equities research analysts at UBS Group from $14.40 to $14.60 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. UBS Group’s target price points to a potential upside of 14.11% from the company’s previous close.

A number of other research analysts have also recently issued reports on PBR. Weiss Ratings restated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. Finally, Wall Street Zen cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE PBR traded up $0.50 on Wednesday, hitting $12.80. 28,509,217 shares of the stock were exchanged, compared to its average volume of 19,705,389. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.03 and a 52 week high of $14.98. The company has a market capitalization of $82.46 billion, a PE ratio of 5.93, a P/E/G ratio of 0.25 and a beta of 0.51. The business’s fifty day moving average is $12.29 and its 200 day moving average is $12.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.57.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its earnings results on Friday, November 7th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. Petroleo Brasileiro S.A.- Petrobras had a net margin of 16.15% and a return on equity of 23.32%. Research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Capital International Investors boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 14.7% during the third quarter. Capital International Investors now owns 20,211,745 shares of the oil and gas exploration company’s stock worth $255,881,000 after buying an additional 2,592,536 shares in the last quarter. ARGA Investment Management LP grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 70.4% in the 3rd quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock valued at $238,118,000 after purchasing an additional 7,772,595 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at approximately $148,086,000. Mondrian Investment Partners LTD acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at approximately $140,433,000. Finally, Earnest Partners LLC increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 52.0% during the 3rd quarter. Earnest Partners LLC now owns 4,872,441 shares of the oil and gas exploration company’s stock worth $61,685,000 after acquiring an additional 1,665,873 shares during the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.