Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Price Target Raised to $24.00 at JPMorgan Chase & Co.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $23.00 to $24.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.72% from the company’s current price.

A number of other research firms have also commented on PBR. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of “Moderate Buy” and an average target price of $19.48.

Petroleo Brasileiro S.A.- Petrobras Trading Up 4.5%

Shares of NYSE:PBR traded up $0.86 during midday trading on Tuesday, hitting $20.21. 20,713,029 shares of the stock traded hands, compared to its average volume of 22,574,330. The stock has a market capitalization of $130.27 billion, a PE ratio of 5.10, a P/E/G ratio of 0.73 and a beta of 0.33. The business’s 50 day moving average is $17.86 and its two-hundred day moving average is $18.60. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Large investors have recently bought and sold shares of the company. Clearstead Advisors LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,706 shares during the period. Geneos Wealth Management Inc. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at $31,000. Ascentis Independent Advisors bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $51,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at $54,000.

About Petroleo Brasileiro S.A.- Petrobras

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.