Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Lowered to Neutral Rating by Bank of America

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report) was downgraded by investment analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued to investors on Monday, Marketbeat.com reports.

Other analysts have also recently issued research reports about the stock. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Wall Street Zen raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective for the company in a research report on Thursday, May 15th. Finally, HSBC raised Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $17.47.

Petróleo Brasileiro S.A. - Petrobras Trading Up 2.8%

Shares of NYSE:PBR traded up $0.34 during midday trading on Monday, hitting $12.41. 37,117,502 shares of the stock were exchanged, compared to its average volume of 17,705,727. The business's 50-day moving average price is $11.64 and its 200 day moving average price is $13.03. Petróleo Brasileiro S.A. - Petrobras has a 12 month low of $11.03 and a 12 month high of $15.73. 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 stock has a market capitalization of $79.97 billion, a price-to-earnings ratio of 4.85, a P/E/G ratio of 0.18 and a beta of 0.84.

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

A number of hedge funds have recently added to or reduced their stakes in PBR. GQG Partners LLC grew its position in shares of Petróleo Brasileiro S.A. - Petrobras by 8.0% during the 1st quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company's stock worth $3,672,458,000 after buying an additional 18,862,848 shares during the period. Carrhae Capital LLP bought a new position in Petróleo Brasileiro S.A. - Petrobras during the first quarter worth $64,765,000. Lazard Asset Management LLC grew its holdings in 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 worth $279,779,000 after purchasing an additional 3,072,312 shares during the period. New York State Common Retirement Fund bought a new stake in Petróleo Brasileiro S.A. - Petrobras in the first quarter valued at $29,984,000. Finally, Artemis Investment Management LLP increased its stake in Petróleo Brasileiro S.A. - Petrobras by 30.2% in the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company's stock valued at $56,052,000 after purchasing an additional 905,800 shares in the last quarter.

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.