Wall Street Zen Upgrades Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) to “Buy”

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other research analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 8th. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. Finally, UBS Group dropped their price target on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Moderate Buy” and a consensus target price of $14.90.

Petroleo Brasileiro S.A.- Petrobras Stock Up 1.0%

Shares of NYSE PBR opened at $13.17 on Monday. The company has a market capitalization of $84.84 billion, a P/E ratio of 6.15 and a beta of 0.83. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $15.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.47 and a current ratio of 0.72. The company’s 50 day moving average price is $12.36 and its 200-day moving average price is $12.29.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Thursday, November 6th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. The company had revenue of $23.48 billion during the quarter, compared to analysts’ expectations of $125.50 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. Equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 20.0% in the 1st quarter. Bank of New York Mellon Corp now owns 81,110 shares of the oil and gas exploration company’s stock worth $1,163,000 after acquiring an additional 13,508 shares during the last quarter. Edgestream Partners L.P. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 10.6% during the 1st quarter. Edgestream Partners L.P. now owns 20,987 shares of the oil and gas exploration company’s stock worth $301,000 after purchasing an additional 2,016 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 20.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 21,989 shares of the oil and gas exploration company’s stock worth $315,000 after purchasing an additional 3,700 shares in the last quarter. Wealth Alliance LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 100.4% in the first quarter. Wealth Alliance LLC now owns 23,966 shares of the oil and gas exploration company’s stock valued at $344,000 after purchasing an additional 12,008 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at approximately $146,000.

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.