Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) announced its earnings results on Thursday. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03, Zacks reports. The business had revenue of $23.48 billion for the quarter, compared to analyst estimates of $125.50 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%.

Petroleo Brasileiro S.A.- Petrobras Trading Up 6.0%

NYSE PBR traded up $0.73 during trading on Friday, hitting $12.87. 53,608,168 shares of the company’s stock traded hands, compared to its average volume of 21,800,799. The stock has a fifty day moving average of $12.28 and a two-hundred day moving average of $12.22. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $15.10. The firm has a market cap of $82.91 billion, a P/E ratio of 6.01 and a beta of 0.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Wednesday, October 8th. Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. Finally, UBS Group cut their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.43.

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

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in 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 worth $30,000 after acquiring an additional 1,044 shares during the last quarter. Focus Partners Wealth lifted its position in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after purchasing an additional 1,356 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 5.8% during the second quarter. Tidal Investments LLC now owns 49,067 shares of the oil and gas exploration company’s stock valued at $614,000 after purchasing an additional 2,685 shares during the period. Cresset Asset Management LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 55.9% in the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock worth $201,000 after purchasing an additional 5,624 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 20.9% in the second quarter. Advisory Services Network LLC now owns 40,829 shares of the oil and gas exploration company’s stock worth $520,000 after buying an additional 7,071 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.