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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was upgraded by investment analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $15.00 price objective on the oil and gas exploration company’s stock. HSBC’s price target points to a potential upside of 16.77% from the company’s previous close.

PBR has been the subject of several other research reports. StockNews.com lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group upped their price target on shares of 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. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and a consensus target price of $17.81.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $12.85 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.55 and a one year high of $17.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. The company has a 50 day moving average price of $13.73 and a 200 day moving average price of $14.10. The firm has a market capitalization of $82.78 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39.

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

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at $141,372,000. GQG Partners LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% in the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock valued at $3,050,855,000 after purchasing an additional 6,016,560 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 16.4% in the fourth quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company’s stock valued at $279,779,000 after purchasing an additional 3,072,312 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 13.1% in the third quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock valued at $227,961,000 after purchasing an additional 1,835,297 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 56.1% in the fourth quarter. Annex Advisory Services LLC now owns 1,508,806 shares of the oil and gas exploration company’s stock valued at $19,403,000 after purchasing an additional 542,118 shares during the period.

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.