PETROLEO BRASIL/ADR (NYSE:PBR) was downgraded by Barclays from an “overweight” rating to an “underweight” rating in a research note issued on Thursday, MarketBeat.com reports. They presently have a $17.00 price objective on the oil and gas exploration company’s stock. Barclays‘s price objective would suggest a potential upside of 11.18% from the stock’s current price.

Other research analysts also recently issued reports about the stock. ValuEngine upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Santander upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research report on Monday, October 8th. Bank of America upgraded shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, October 8th. Zacks Investment Research downgraded shares of PETROLEO BRASIL/ADR from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Finally, Credit Suisse Group set a $15.00 target price on shares of PETROLEO BRASIL/ADR and gave the company a “hold” rating in a research report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.48.

PETROLEO BRASIL/ADR stock opened at $15.29 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.18 and a current ratio of 1.60. PETROLEO BRASIL/ADR has a 1 year low of $9.02 and a 1 year high of $17.20. The stock has a market cap of $101.88 billion, a price-to-earnings ratio of 21.84 and a beta of 1.55.

PETROLEO BRASIL/ADR (NYSE:PBR) last released its earnings results on Tuesday, November 6th. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). PETROLEO BRASIL/ADR had a net margin of 5.21% and a return on equity of 10.11%. The business had revenue of $24.87 billion for the quarter, compared to analyst estimates of $24.51 billion. On average, analysts forecast that PETROLEO BRASIL/ADR will post 1.46 earnings per share for the current year.

Several large investors have recently made changes to their positions in PBR. MARSHALL WACE ASIA Ltd acquired a new stake in shares of PETROLEO BRASIL/ADR in the 3rd quarter valued at approximately $48,728,000. Axiom International Investors LLC DE raised its position in shares of PETROLEO BRASIL/ADR by 137.5% in the 3rd quarter. Axiom International Investors LLC DE now owns 4,999,257 shares of the oil and gas exploration company’s stock valued at $60,341,000 after acquiring an additional 2,894,657 shares during the period. Acadian Asset Management LLC raised its position in shares of PETROLEO BRASIL/ADR by 2,379.9% in the 3rd quarter. Acadian Asset Management LLC now owns 2,438,058 shares of the oil and gas exploration company’s stock valued at $29,427,000 after acquiring an additional 2,339,747 shares during the period. Capital Growth Management LP raised its position in shares of PETROLEO BRASIL/ADR by 28.0% in the 3rd quarter. Capital Growth Management LP now owns 8,000,000 shares of the oil and gas exploration company’s stock valued at $96,560,000 after acquiring an additional 1,750,000 shares during the period. Finally, Bamco Inc. NY increased its stake in PETROLEO BRASIL/ADR by 14.9% during the 3rd quarter. Bamco Inc. NY now owns 7,912,703 shares of the oil and gas exploration company’s stock worth $95,506,000 after purchasing an additional 1,026,622 shares in the last quarter. Institutional investors and hedge funds own 6.67% of the company’s stock.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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