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

Key Points

• Petrobras has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, reflecting growing concerns among analysts regarding the company's performance.
• Other analysts, including Zacks Research, have followed suit, downgrading Petrobras to a "hold" rating and adjusting their price target from $15.80 to $14.40.
• Petrobras reported earnings per share of $0.64 for the last quarter, missing the consensus estimate of $0.70, while the company generated revenues of $21.04 billion, exceeding expectations.

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

Other equities analysts also recently issued reports about the company. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 18th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Wednesday, October 8th. Finally, UBS Group reduced their price objective on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.43.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of NYSE:PBR opened at $11.64 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The business has a fifty day moving average price of $12.36 and a 200-day moving average price of $12.22. The company has a market capitalization of $74.98 billion, a PE ratio of 5.44 and a beta of 0.86.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. The company had revenue of $21.04 billion for the quarter, compared to the consensus estimate of $20.78 billion. As a group, equities analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PBR. TrueMark Investments LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $2,678,000. International Assets Investment Management LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 20.3% in the first quarter. International Assets Investment Management LLC now owns 13,064 shares of the oil and gas exploration company's stock worth $187,000 after purchasing an additional 2,202 shares during the last quarter. Moran Wealth Management LLC boosted its position in Petroleo Brasileiro S.A.- Petrobras by 3.2% in the first quarter. Moran Wealth Management LLC now owns 405,562 shares of the oil and gas exploration company's stock worth $5,816,000 after purchasing an additional 12,754 shares during the last quarter. Artemis Investment Management LLP boosted its position in Petroleo 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 worth $56,052,000 after purchasing an additional 905,800 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $154,000.

About Petroleo 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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