Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a strong-buy rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

PBR has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Petroleo Brasileiro S.A. – Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Weiss Ratings lowered shares of Petroleo Brasileiro S.A. – Petrobras from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Zacks Research raised shares of Petroleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A. – Petrobras currently has an average rating of “Buy” and a consensus price target of $20.97.

Petroleo Brasileiro S.A. – Petrobras Stock Performance

NYSE:PBR traded up $0.23 during midday trading on Friday, reaching $18.33. The stock had a trading volume of 17,735,935 shares, compared to its average volume of 27,941,668. The firm has a fifty day simple moving average of $21.96 and a two-hundred day simple moving average of $19.32. Petroleo Brasileiro S.A. – Petrobras has a 12-month low of $11.43 and a 12-month high of $26.39. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market cap of $118.12 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.34 and a beta of 0.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Carrhae Capital LLP acquired a new position in Petroleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $87,456,000. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new position in Petroleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at about $1,027,000. Franchise GP Ltd purchased a new position in Petroleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $17,660,000. Artemis Investment Management LLP boosted its stake in shares of Petroleo Brasileiro S.A. – Petrobras by 4.2% during the 3rd quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company’s stock worth $138,640,000 after purchasing an additional 270,422 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Petroleo Brasileiro S.A. – Petrobras during the 1st quarter worth about $2,074,000.

Key Headlines Impacting Petroleo Brasileiro S.A. – Petrobras

Here are a few of the latest headlines about PBR:

• Neutral Sentiment: Reuters reported that BP is in talks to sell Petrobras a stake in a Brazilian oil discovery. A deal could add to Petrobras’ resource base, but talks are not confirmation of a transaction, and terms and costs were not reported. BP talks to sell Petrobras stake
• Neutral Sentiment: Petrobras plans to buy out its partners in Logum, expanding its presence in biofuel logistics. The move advances diversification, though the report does not specify the purchase price or expected financial impact. Petrobras to buy out Logum partners
• Negative Sentiment: A Seeking Alpha analysis flags shrinking dividends and uncertainty tied to Brazil’s political environment as concerns, despite record earnings. Dividend expectations and perceived political risk may weigh on investor sentiment. Petrobras earnings, dividends and political risks

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.