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

According to Zacks, “Petrobras is the largest integrated energy firm in Brazil. The company boasts healthy production growth and has announced several important discoveries of late. Additionally, loans from China should offer some relief considering Petrobras’ huge debt burden and the money-laundering scandal, which has scarred its credit metrics. Moreover, we appreciate the cost-control initiatives adopted by Petrobras. However, much is yet to be achieved considering the firm’s scale of operations and investment base. Predictably, the crude price slump has adversely affected the group’s earnings and cash flows, particularly at its upstream unit. On top of that, high debt levels and a decline in the number of available creditors have put pressure on the company’s financials. Considering all the factors, we think that the current valuation is fair and adequately reflects Petrobras' growth prospects.”

PBR has been the topic of several other reports. Morgan Stanley restated an “overweight” rating and set a $13.00 target price (up from $10.00) on shares of Petroleo Brasileiro SA – Petrobras in a research report on Thursday, October 6th. Credit Suisse Group AG lowered their target price on shares of 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. Barclays PLC reiterated an “underweight” rating and issued a $9.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research report on Thursday, September 22nd. Citigroup Inc. upgraded shares of Petroleo Brasileiro SA – Petrobras from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.80 to $12.00 in a research report on Wednesday, October 5th. Finally, HSBC upgraded shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Petroleo Brasileiro SA – Petrobras has a consensus rating of “Hold” and a consensus price target of $9.05.

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

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 10.87 on Tuesday. The company has a 50-day moving average of $10.93 and a 200 day moving average of $8.83. Petroleo Brasileiro SA – Petrobras has a 12-month low of $2.71 and a 12-month high of $12.56. The firm’s market cap is $70.90 billion.

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Institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth $57,271,000. Horseman Capital Management Ltd bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth $54,416,000. Axiom International Investors LLC DE increased its position in Petroleo Brasileiro SA – Petrobras by 152.6% in the second quarter. Axiom International Investors LLC DE now owns 7,025,000 shares of the oil and gas exploration company’s stock worth $50,299,000 after buying an additional 4,243,900 shares in the last quarter. Numeric Investors LLC bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth $19,363,000. Finally, Ashmore Group plc bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth $7,992,000. 6.09% of the stock is currently owned by institutional investors.

Petroleo Brasileiro SA – Petrobras Company Profile

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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