Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Rating Increased to Strong-Buy at Hsbc Global Res

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was upgraded by research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR opened at $12.95 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $83.42 billion, a P/E ratio of 5.06, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. The firm has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $14.11. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $12.55 and a twelve month high of $17.44.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PBR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the third quarter worth approximately $141,372,000. GQG Partners LLC grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% during the 4th quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock valued at $3,050,855,000 after buying an additional 6,016,560 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 16.4% during the 4th quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company’s stock worth $279,779,000 after buying an additional 3,072,312 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 13.1% in the 3rd quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock worth $227,961,000 after buying an additional 1,835,297 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 56.1% in the fourth quarter. Annex Advisory Services LLC now owns 1,508,806 shares of the oil and gas exploration company’s stock valued at $19,403,000 after acquiring an additional 542,118 shares during the last quarter.

About Petróleo 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.