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

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

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

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE PBR opened at $18.76 on Thursday. The firm has a market cap of $120.88 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 0.75 and a beta of 0.38. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $22.24. The business’s 50 day moving average is $20.45 and its 200-day moving average is $16.29.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its earnings results 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 for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%. Equities research analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current year.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of large investors have recently modified their holdings of PBR. Mondrian Investment Partners LTD acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at $140,433,000. Capital International Investors boosted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after purchasing an additional 10,425,563 shares in the last quarter. Oaktree Capital Management LP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $126,355,000. DJE Kapital AG acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $65,428,000. Finally, ICICI Prudential Asset Management Co Ltd acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter valued at $35,144,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo 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.