Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a buy rating to a hold rating in a report released on Monday morning.

Separately, The Goldman Sachs Group boosted their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Petróleo Brasileiro S.A. – Petrobras stock opened at $13.15 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.55 and a 12-month high of $17.44. The stock has a market capitalization of $84.74 billion, a price-to-earnings ratio of 5.14, a P/E/G ratio of 0.18 and a beta of 1.40. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $13.74 and a 200 day simple moving average of $14.13.

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

Several hedge funds have recently bought and sold shares of the company. KG&L Capital Management LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 32.9% during the third quarter. KG&L Capital Management LLC now owns 43,600 shares of the oil and gas exploration company’s stock worth $628,000 after acquiring an additional 10,800 shares in the last quarter. Summit Global Investments bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $1,625,000. Fiera Capital Corp lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 59.8% in the third quarter. Fiera Capital Corp now owns 100,109 shares of the oil and gas exploration company’s stock valued at $1,443,000 after buying an additional 37,475 shares during the last quarter. Assetmark Inc. lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 4.8% during the 3rd quarter. Assetmark Inc. now owns 939,864 shares of the oil and gas exploration company’s stock valued at $13,543,000 after purchasing an additional 43,433 shares during the last quarter. Finally, Ted Buchan & Co acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth about $1,939,000.

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.