Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Rating Lowered by HSBC

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat Ratings reports.

Several other equities analysts have also commented on PBR. UBS Group reduced their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $16.50 to $19.00 in a report on Wednesday, September 25th. The Goldman Sachs Group cut their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Finally, Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Petróleo Brasileiro S.A. – Petrobras Trading Down 0.6 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $13.88 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 0.90. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91. The firm’s fifty day moving average price is $14.80 and its 200-day moving average price is $15.05.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. The company had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. Equities research analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 2.4 earnings per share for the current year.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock valued at $27,000 after purchasing an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $30,000. ORG Partners LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 396.0% during the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,679 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $32,000. Finally, Nisa Investment Advisors LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $35,000.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.