Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Rating Upgraded by Zacks Research

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other analysts have also issued reports on PBR. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and an average price target of $19.48.

Petroleo Brasileiro S.A.- Petrobras Trading Up 5.0%

NYSE PBR opened at $20.32 on Monday. The company has a market cap of $130.95 billion, a PE ratio of 5.13, a PEG ratio of 0.76 and a beta of 0.32. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The stock has a 50 day moving average of $17.92 and a 200-day moving average of $18.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd 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 during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at approximately $31,000. Ascentis Independent Advisors acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $51,000. Finally, Harbor Investment Advisory LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $54,000.

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.