Zacks Investment Research lowered shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Petrobras ADRs continue to struggle, reflecting lingering issues pertaining to the money-laundering scandal that has scarred its credit metrics. Over the year, the stock is down 3.8%, underperforming the broader industry. There's no ignoring that the crude price slump has adversely affected the group’s earnings and cash flows, particularly at its upstream unit. On top of that, the company has a leverage of 53% which is a cause of concern, limiting the growth of the company. Petrobras is also exposed to risk relating to adverse currency fluctuations in its international operations. Hence we take a bearish stance on the prospects of the stock.”

PBR has been the subject of a number of other reports. Deutsche Bank AG raised shares of Petroleo Brasileiro S.A.- Petrobras from a sell rating to a hold rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a buy rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, September 15th. BidaskClub cut shares of Petroleo Brasileiro S.A.- Petrobras from a hold rating to a sell rating in a research report on Friday, June 23rd. Barclays PLC reaffirmed an underweight rating and set a $8.00 price target (down from $11.00) on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, July 12th. Finally, Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $10.36.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) traded up 0.38% during midday trading on Tuesday, hitting $10.51. The company had a trading volume of 1,577,791 shares. The stock’s market cap is $39.11 billion. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $7.61 and a 52-week high of $12.56. The stock’s 50-day moving average price is $9.87 and its 200-day moving average price is $9.08.

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A number of large investors have recently bought and sold shares of the business. IHT Wealth Management LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter valued at about $103,000. SOL Capital Management CO boosted its position in Petroleo Brasileiro S.A.- Petrobras by 1.0% in the 2nd quarter. SOL Capital Management CO now owns 24,150 shares of the oil and gas exploration company’s stock valued at $193,000 after buying an additional 250 shares during the last quarter. AGF Investments Inc. boosted its position in Petroleo Brasileiro S.A.- Petrobras by 1.4% in the 2nd quarter. AGF Investments Inc. now owns 87,020 shares of the oil and gas exploration company’s stock valued at $695,000 after buying an additional 1,231 shares during the last quarter. Eqis Capital Management Inc. boosted its position in Petroleo Brasileiro S.A.- Petrobras by 8.5% in the 2nd quarter. Eqis Capital Management Inc. now owns 16,082 shares of the oil and gas exploration company’s stock valued at $128,000 after buying an additional 1,262 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Petroleo Brasileiro S.A.- Petrobras by 11.6% in the 2nd quarter. Van ECK Associates Corp now owns 18,684 shares of the oil and gas exploration company’s stock valued at $149,000 after buying an additional 1,947 shares during the last quarter. 5.71% of the stock is owned by institutional investors.

About Petroleo Brasileiro S.A.- Petrobras

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