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

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

PBR has been the subject of a number of other reports. HSBC upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research report on Wednesday, March 5th. Wall Street Zen upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group raised 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 Global Res upgraded Petróleo Brasileiro S.A. - Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $17.47.

Petróleo Brasileiro S.A. - Petrobras Stock Up 1.4%

Shares of NYSE:PBR opened at $11.32 on Monday. The firm has a market cap of $72.95 billion, a P/E ratio of 4.42, a P/E/G ratio of 0.18 and a beta of 0.84. Petróleo Brasileiro S.A. - Petrobras has a 12-month low of $11.03 and a 12-month high of $15.73. The business has a fifty day simple moving average of $11.77 and a 200 day simple moving average of $13.07. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65.

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

Large investors have recently modified their holdings of the company. GQG Partners LLC raised its holdings in Petróleo Brasileiro S.A. - Petrobras by 8.0% during the first 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 last quarter. Carrhae Capital LLP acquired a new position in Petróleo Brasileiro S.A. - Petrobras during the 1st quarter valued at about $64,765,000. Lazard Asset Management LLC increased its holdings in Petróleo Brasileiro S.A. - Petrobras by 16.4% during the 4th 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 in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Petróleo Brasileiro S.A. - Petrobras in the first quarter worth approximately $29,984,000. Finally, Artemis Investment Management LLP lifted its holdings in shares of 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.

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