Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Announces Quarterly Earnings Results

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) issued its earnings results on Tuesday. The oil and gas exploration company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.06, Zacks reports. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 30.61% and a net margin of 24.52%. The company had revenue of $32.96 billion for the quarter, compared to analyst estimates of $33.10 billion.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR stock traded down $0.26 during trading on Wednesday, reaching $18.02. The company had a trading volume of 9,574,461 shares, compared to its average volume of 23,238,652. The firm’s 50 day simple moving average is $22.11 and its two-hundred day simple moving average is $19.27. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $26.39. The company has a market capitalization of $116.16 billion, a PE ratio of 4.56, a PEG ratio of 0.37 and a beta of 0.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. UBS Group raised their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Finally, Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $20.97.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro S.A., known as Petrobras, is an integrated energy company headquartered in Rio de Janeiro, Brazil. Founded in 1953, it is controlled by the Brazilian government and has publicly traded shares, including American depositary shares listed in the United States. Petrobras’s core business is exploring for and producing oil and natural gas, with a significant focus on offshore and deepwater fields, including Brazil’s pre-salt basins. The company also operates in refining, transportation, and the sale of oil, fuels, natural gas, and related energy products.