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

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

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group increased their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.70 to $24.80 in a research note on Friday, April 17th. Finally, Jefferies Financial Group lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.30 to $19.00 in a research note on Friday, March 13th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of Petroleo Brasileiro S.A.- Petrobras stock opened at $18.76 on Thursday. The firm has a market cap of $120.88 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 0.75 and a beta of 0.38. The firm’s 50-day simple moving average is $20.45 and its 200-day simple moving average is $16.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last issued its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. The business had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. Equities analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

Several institutional investors and hedge funds have recently bought and sold shares of PBR. Inspire Investing LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.8% in the 1st quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock valued at $147,000 after purchasing an additional 574 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 24,130 shares of the oil and gas exploration company’s stock valued at $501,000 after purchasing an additional 696 shares in the last quarter. Drum Hill Capital LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% in the 1st quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company’s stock valued at $2,746,000 after purchasing an additional 714 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 210,974 shares of the oil and gas exploration company’s stock valued at $2,671,000 after purchasing an additional 780 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% in the 4th quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock valued at $388,000 after purchasing an additional 829 shares in the last quarter.

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.