Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) issued its quarterly earnings results on Tuesday. The oil and gas exploration company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06, Zacks reports. Petroleo Brasileiro S.A.- Petrobras had a net margin of 24.52% and a return on equity of 30.61%.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.4%

PBR traded down $0.07 during mid-day trading on Tuesday, reaching $18.27. 23,466,235 shares of the stock were exchanged, compared to its average volume of 23,305,314. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $26.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. The stock has a market capitalization of $117.77 billion, a PE ratio of 4.61, a price-to-earnings-growth ratio of 0.39 and a beta of 0.33. The company has a 50 day moving average price of $22.11 and a two-hundred day moving average price of $19.27.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PBR shares. UBS Group boosted their price target on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. raised their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. 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. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Buy” and an average target price of $20.97.

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.