Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Lowered to Hold Rating by Zacks Research

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

PBR has been the subject of several other reports. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.30 to $19.00 in a report on Friday, March 13th. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.70 to $24.80 in a report on Friday, April 17th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. Finally, The Goldman Sachs Group upped their target price on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.4%

PBR stock opened at $18.76 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. The stock has a market capitalization of $120.88 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.75 and a beta of 0.38. The business has a 50-day moving average of $20.45 and a 200-day moving average of $16.29. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $22.24.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. The company had revenue of $23.54 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%. On average, sell-side analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current fiscal year.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund raised its stake in Petroleo Brasileiro S.A.- Petrobras by 20.9% in the third quarter. New York State Common Retirement Fund now owns 2,702,467 shares of the oil and gas exploration company’s stock valued at $34,213,000 after buying an additional 467,737 shares during the period. Moran Wealth Management LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 18.0% in the fourth quarter. Moran Wealth Management LLC now owns 535,044 shares of the oil and gas exploration company’s stock valued at $6,340,000 after buying an additional 81,567 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Petroleo Brasileiro S.A.- Petrobras by 8.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,969,030 shares of the oil and gas exploration company’s stock valued at $24,928,000 after buying an additional 151,300 shares during the period. ORG Partners LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 2,273.3% in the fourth quarter. ORG Partners LLC now owns 52,283 shares of the oil and gas exploration company’s stock valued at $619,000 after buying an additional 50,080 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the third quarter valued at approximately $35,144,000.

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.