Petroleo Brasileiro S.A. - Petrobras (NYSE:PBR) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Petrobras from “Strong Buy” to “Buy.” Weiss Ratings also slightly lowered its rating, while Zacks upgraded the stock to “Strong Buy.”
• Analyst sentiment remains positive overall: MarketBeat reports a consensus “Buy” rating and an average price target of $20.97; JPMorgan and UBS recently raised their targets.
• PBR opened at $18.33, below its 50-day moving average of $21.96. Several institutional investors, including Oaktree Capital Management, recently established new positions.

Petroleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on PBR. Weiss Ratings lowered shares of Petroleo Brasileiro S.A. - Petrobras from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Petroleo Brasileiro S.A. - Petrobras from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. UBS Group lifted their price target on shares of 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. Finally, Zacks Research upgraded Petroleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a report 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 given a Hold rating to the stock. According to MarketBeat, Petroleo Brasileiro S.A. - Petrobras currently has an average rating of "Buy" and a consensus target price of $20.97.

Petroleo Brasileiro S.A. - Petrobras Stock Performance

PBR stock opened at $18.33 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The business's fifty day simple moving average is $21.96 and its two-hundred day simple moving average is $19.32. Petroleo Brasileiro S.A. - Petrobras has a twelve month low of $11.43 and a twelve month high of $26.39. The firm has a market cap of $118.12 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 0.34 and a beta of 0.33.

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

Institutional investors have recently made changes to their positions in the company. Oaktree Capital Management LP purchased a new position in shares of Petroleo Brasileiro S.A. - Petrobras in the 1st quarter valued at $126,355,000. Carrhae Capital LLP purchased a new stake in shares of Petroleo Brasileiro S.A. - Petrobras during the 2nd quarter worth $87,456,000. Aquamarine Financial Cayman Ltd purchased a new stake in shares of Petroleo Brasileiro S.A. - Petrobras during the 3rd quarter worth $68,322,000. DJE Kapital AG purchased a new stake in shares of Petroleo Brasileiro S.A. - Petrobras during the 1st quarter worth $65,428,000. Finally, William Blair Investment Management LLC bought a new stake in Petroleo Brasileiro S.A. - Petrobras during the third quarter valued at about $55,458,000.

Recent Petroleo Brasileiro S.A. - Petrobras Headlines

These are some of the PBR headlines that stood out recently:

• Positive Sentiment: After falling 28.5% over four weeks, PBR is described as technically oversold. The article also points to Wall Street analysts raising earnings estimates, which could help the stock stabilize or rebound, although neither a reversal nor a near-term recovery is assured. Petrobras oversold and earnings estimates
• Neutral Sentiment: Petrobras plans to buy out its partners in Logum, expanding its presence in biofuel logistics. The move advances diversification, though the report does not specify the purchase price or expected financial impact. Petrobras to buy out Logum partners
• Negative Sentiment: A Seeking Alpha analysis flags shrinking dividends and uncertainty tied to Brazil’s political environment as concerns, despite record earnings. Dividend expectations and perceived political risk may weigh on investor sentiment. Petrobras earnings, dividends and political risks

About Petroleo Brasileiro S.A. - Petrobras

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.

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