Wall Street Zen Upgrades Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Petrobras (NYSE: PBR) from “buy” to “strong-buy.” Other analysts are also generally positive, giving the stock an overall “Moderate Buy” consensus and an average price target of $21.16.
• Petrobras shares opened at $21.61, near their 52-week high of $22.24, with a market capitalization of approximately $139.3 billion and a low trailing P/E ratio of 5.46.
• Institutional interest increased during the second quarter, including a new $87.5 million position from Carrhae Capital and additional purchases by NewEdge Advisors and Baird Financial Group.

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

Several other equities research analysts also recently commented on the company. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. JPMorgan Chase & Co. lifted their price target 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. Weiss Ratings restated a "buy (b-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. Finally, UBS Group raised their price objective 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. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras presently has an average rating of "Moderate Buy" and an average price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of PBR opened at $21.61 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.85 and a quick ratio of 0.58. The stock has a 50-day moving average of $19.59 and a 200-day moving average of $19.28. The company has a market cap of $139.28 billion, a PE ratio of 5.46, a P/E/G ratio of 0.82 and a beta of 0.29. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.43 and a one year high of $22.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth approximately $695,000. NewEdge Advisors LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 18.3% in the second quarter. NewEdge Advisors LLC now owns 25,724 shares of the oil and gas exploration company's stock valued at $416,000 after purchasing an additional 3,971 shares during the period. Baird Financial Group Inc. boosted its holdings in Petroleo Brasileiro S.A.- Petrobras by 7.0% in the 2nd quarter. Baird Financial Group Inc. now owns 94,228 shares of the oil and gas exploration company's stock worth $1,523,000 after buying an additional 6,153 shares during the period. Carrhae Capital LLP purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $87,456,000. Finally, West Family Investments Inc. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter worth $168,000.

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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