Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “The ongoing oil price rout and the huge debt burden have made us bearish on Petrobras. With the largest debt load in the oil industry, coupled with years of mismanagement and corruption, the Rio de Janeiro-based energy group has seen its credit metrics worsen meaningfully. As it is, Petrobras’ involvement in the multibilliondollar money laundering and bribery case continues to weigh on it. Predictably, the crude price slump has adversely affected the group’s earnings and cash flows, particularly at its upstream unit. While we welcome the company's decision to reduce its investment plan and the recent cut in fuel prices, we feel Brazil's flagship enterprise will have to sell some of its prized pre-salt oil fields to tackle the massive leverage. Finally, the lowering of gasoline and diesel prices are set to impact Petrobras' near-term results. Consequently, we advice investors to sell PBR.”

A number of other brokerages also recently issued reports on PBR. Vetr upgraded Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “hold” rating and set a $7.96 price target on the stock in a research report on Thursday, July 28th. Scotiabank started coverage on Petroleo Brasileiro SA – Petrobras in a research report on Monday. They set a “sector perform” rating on the stock. Barclays PLC reiterated an “equal weight” rating and set a $11.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research report on Thursday, November 10th. Credit Suisse Group AG lowered their price target on Petroleo Brasileiro SA – Petrobras from $11.00 to $8.60 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Finally, Macquarie upgraded Petroleo Brasileiro SA – Petrobras from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 15th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.67.

Analyst Recommendations for Petroleo Brasileiro SA - Petrobras (NYSE:PBR)

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 9.57 on Tuesday. Petroleo Brasileiro SA – Petrobras has a 1-year low of $2.71 and a 1-year high of $12.56. The firm’s market capitalization is $62.42 billion. The firm’s 50 day moving average is $10.80 and its 200 day moving average is $8.59.

A number of large investors have recently bought and sold shares of PBR. Highland Capital Management LLC boosted its stake in Petroleo Brasileiro SA – Petrobras by 0.3% in the third quarter. Highland Capital Management LLC now owns 79,587 shares of the oil and gas exploration company’s stock valued at $743,000 after buying an additional 200 shares during the period. Creative Planning boosted its stake in Petroleo Brasileiro SA – Petrobras by 1.8% in the third quarter. Creative Planning now owns 18,717 shares of the oil and gas exploration company’s stock valued at $175,000 after buying an additional 335 shares during the period. Hanseatic Management Services Inc. boosted its stake in Petroleo Brasileiro SA – Petrobras by 0.7% in the second quarter. Hanseatic Management Services Inc. now owns 65,001 shares of the oil and gas exploration company’s stock valued at $465,000 after buying an additional 449 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Petroleo Brasileiro SA – Petrobras by 1.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 27,670 shares of the oil and gas exploration company’s stock valued at $198,000 after buying an additional 450 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Petroleo Brasileiro SA – Petrobras by 1.7% in the second quarter. Private Advisor Group LLC now owns 28,895 shares of the oil and gas exploration company’s stock valued at $202,000 after buying an additional 472 shares during the period. 5.80% of the stock is owned by institutional investors.

About Petroleo Brasileiro SA – Petrobras

Petroleo Brasileiro SA-Petrobras is an energy company. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks, as well as oil products, natural gas and other liquid hydrocarbons.

5 Day Chart for NYSE:PBR

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