Zacks Research Downgrades Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) to Strong Sell

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on PBR. JPMorgan Chase & Co. lowered their target price on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. Jefferies Financial Group lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and reduced their price target for the company from $20.30 to $19.00 in a report on Friday, March 13th. Finally, Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Trading Up 3.5%

Shares of NYSE:PBR opened at $17.23 on Tuesday. The firm has a fifty day moving average of $18.53 and a two-hundred day moving average of $17.21. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $22.24. The firm has a market capitalization of $111.07 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion for the quarter. On average, equities analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current fiscal year.

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

A number of institutional investors have recently modified their holdings of PBR. GHP Investment Advisors Inc. bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth $26,000. Clearstead Advisors LLC grew its stake in 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 buying an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after acquiring an additional 1,044 shares during the period. Ascentis Independent Advisors bought a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth $51,000. Finally, Harbor Investment Advisory LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $54,000.

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.