Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Price Target Raised to $15.00

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) had its price objective upped by analysts at The Goldman Sachs Group from $13.10 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 5.87% from the stock’s current price.

Several other brokerages also recently issued reports on PBR. Weiss Ratings reissued a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, December 29th. UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.98.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Petroleo Brasileiro S.A.- Petrobras stock traded up $0.61 during mid-day trading on Wednesday, hitting $15.94. The stock had a trading volume of 25,194,180 shares, compared to its average volume of 26,677,363. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $16.03. The company has a current ratio of 0.82, a quick ratio of 0.57 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $102.69 billion, a P/E ratio of 7.37, a P/E/G ratio of 0.31 and a beta of 0.49. The firm’s 50 day moving average is $12.91 and its 200 day moving average is $12.59.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Mondrian Investment Partners LTD bought a new position in Petroleo Brasileiro S.A.- Petrobras in the third quarter worth approximately $140,433,000. Capital International Investors raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock worth $363,052,000 after acquiring an additional 10,425,563 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 70.4% in the 3rd quarter. ARGA Investment Management LP now owns 18,808,705 shares of the oil and gas exploration company’s stock worth $238,118,000 after acquiring an additional 7,772,595 shares in the last quarter. ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 3rd quarter worth $35,144,000. Finally, DNB Asset Management AS bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at about $21,778,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.