Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Rating Lowered to “Hold” at Wall Street Zen

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other research analysts have also weighed in on PBR. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Wednesday, October 8th. UBS Group cut their price objective on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a report on Friday, August 22nd. Finally, Zacks Research lowered Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.43.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.6%

Shares of NYSE:PBR opened at $11.71 on Friday. The business’s 50-day moving average is $12.35 and its 200 day moving average is $12.20. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $15.10. The firm has a market capitalization of $75.43 billion, a P/E ratio of 5.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings data on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). The firm had revenue of $21.04 billion during the quarter, compared to analyst estimates of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. On average, research analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

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

A number of hedge funds have recently bought and sold shares of the business. GQG Partners LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 8.0% during the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company’s stock worth $3,672,458,000 after purchasing an additional 18,862,848 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at approximately $148,086,000. ARGA Investment Management LP boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.3% in the first quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company’s stock worth $158,258,000 after acquiring an additional 38,312 shares during the last quarter. Carrhae Capital LLP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $64,765,000. Finally, Artemis Investment Management LLP increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 30.2% during the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company’s stock worth $56,052,000 after purchasing an additional 905,800 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.