The Goldman Sachs Group Boosts Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Price Target to $15.00

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $13.10 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 1.67% from the stock’s current price.

A number of other research firms also recently issued reports on PBR. 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, January 17th. UBS Group upped their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR opened at $15.26 on Wednesday. The company has a market capitalization of $98.31 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 0.32 and a beta of 0.49. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $16.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.57. The business’s 50-day moving average is $13.01 and its 200-day moving average is $12.63.

Hedge Funds Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of institutional investors have recently made changes to their positions in the business. Financial Gravity Companies Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $26,000. GHP Investment Advisors Inc. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth approximately $26,000. Clearstead Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,044 shares during the period. Finally, Whipplewood Advisors LLC grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 45.7% in the second quarter. Whipplewood Advisors LLC now owns 2,875 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 902 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo 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.