Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Shares Gap Down – Here’s Why

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) shares gapped down before the market opened on Wednesday. The stock had previously closed at $18.28, but opened at $17.60. Petroleo Brasileiro S.A.- Petrobras shares last traded at $18.0660, with a volume of 6,884,763 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PBR shares. JPMorgan Chase & Co. lifted their price objective on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Finally, UBS Group raised their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Buy” and a consensus target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Price Performance

The business has a fifty day simple moving average of $22.11 and a two-hundred day simple moving average of $19.27. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The stock has a market cap of $116.19 billion, a PE ratio of 4.56, a P/E/G ratio of 0.37 and a beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last released its earnings results on Tuesday, November 10th. The oil and gas exploration company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The company had revenue of $32.96 billion during the quarter, compared to analysts’ expectations of $33.10 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 30.61% and a net margin of 24.52%. Research analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 4.67 earnings per share for the current year.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at $31,000. Jacobi Capital Management LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth about $45,000. NFSG Corp increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 153.8% in the 3rd quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company’s stock worth $86,000 after acquiring an additional 2,500 shares in the last quarter. GK Wealth Management LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 3rd quarter worth about $97,000. Finally, Vestor Capital LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $119,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro S.A., known as Petrobras, is an integrated energy company headquartered in Rio de Janeiro, Brazil. Founded in 1953, it is controlled by the Brazilian government and has publicly traded shares, including American depositary shares listed in the United States. Petrobras’s core business is exploring for and producing oil and natural gas, with a significant focus on offshore and deepwater fields, including Brazil’s pre-salt basins. The company also operates in refining, transportation, and the sale of oil, fuels, natural gas, and related energy products.