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

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 research report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Jefferies Financial Group downgraded 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 report on Friday, March 13th. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. JPMorgan Chase & Co. lowered their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Finally, Weiss Ratings upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.28.

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

NYSE PBR opened at $17.23 on Tuesday. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.43 and a 12 month high of $22.24. The company has a 50-day moving average of $18.53 and a 200-day moving average of $17.21. The company has a market cap of $111.07 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.73 and a beta of 0.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49.

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. The company 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%. As a group, equities analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.28 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Petroleo Brasileiro S.A.- Petrobras by 55.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 11,680 shares during the period. Focus Partners Wealth raised its position in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after purchasing an additional 1,356 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 55.9% during the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock worth $201,000 after purchasing an additional 5,624 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% during the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock worth $235,000 after purchasing an additional 16,699 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% during the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock worth $674,000 after purchasing an additional 13,988 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo 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.