Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Petrobras from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy,” with six Buy ratings and two Holds.
• UBS and JPMorgan raised their price targets to $23 and $24, respectively; the average analyst target is $20.97.
• Petrobras shares opened at $25.28, near their 12-month high of $25.60, with a $162.89 billion market capitalization and a low price-to-earnings ratio of 6.38.

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

A number of other research firms have also issued reports on PBR. UBS Group increased their target price on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Tuesday, September 1st. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of "Moderate Buy" and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE:PBR opened at $25.28 on Friday. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $25.60. The firm has a market cap of $162.89 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.29. The company has a 50-day moving average of $20.17 and a 200-day moving average of $19.46. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

Several large investors have recently made changes to their positions in PBR. Artemis Investment Management LLP raised its position in Petroleo Brasileiro S.A.- Petrobras by 4.2% during the third quarter. Artemis Investment Management LLP now owns 6,643,028 shares of the oil and gas exploration company's stock valued at $138,640,000 after acquiring an additional 270,422 shares in the last quarter. Oaktree Capital Management LP bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth approximately $126,355,000. Carrhae Capital LLP acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth $87,456,000. DJE Kapital AG acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $65,428,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at $42,858,000.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil's pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.

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