Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Rating Lowered to Hold at Jefferies Financial Group

Key Points

• Jefferies downgraded Petroleo Brasileiro S.A. (NYSE: PBR) from "buy" to "hold" and set a $19.00 price target, implying roughly a 1.9% upside from the prior close.
• Analyst consensus remains mixed with two Buy and four Hold ratings, an overall average rating of "Hold" and an average target price of $16.20 despite some firms (Goldman, UBS) raising their targets recently.
• Shares traded down to $18.64 (‑1.7%) on heavy but below-average volume; the stock has a market cap of $120.1B, a PE of 6.14, and is trading near its 52‑week high of $19.29.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) was downgraded by analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $19.00 price target on the oil and gas exploration company's stock. Jefferies Financial Group's target price would suggest a potential upside of 1.93% from the company's previous close.

Other analysts also recently issued research reports about the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Monday, December 29th. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Saturday, January 17th. The Goldman Sachs Group raised their target price on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Finally, UBS Group lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $14.40 to $14.60 and gave the company a "buy" rating in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.20.

Petroleo Brasileiro S.A.- Petrobras Trading Down 1.7%

Shares of NYSE PBR traded down $0.33 during trading on Friday, hitting $18.64. 13,926,157 shares of the company were exchanged, compared to its average volume of 28,133,449. The company has a fifty day moving average price of $14.93 and a 200-day moving average price of $13.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.57 and a current ratio of 0.71. The firm has a market capitalization of $120.12 billion, a PE ratio of 6.14, a P/E/G ratio of 0.31 and a beta of 0.51. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.03 and a 12-month high of $19.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. World Investment Advisors boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 26.4% in the 4th quarter. World Investment Advisors now owns 19,365 shares of the oil and gas exploration company's stock valued at $229,000 after buying an additional 4,043 shares during the period. Fearnley Asset Management AS purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth approximately $17,590,000. Larch Capital Partners LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth approximately $7,714,000. Empowered Funds LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 39.5% in the 4th quarter. Empowered Funds LLC now owns 17,079 shares of the oil and gas exploration company's stock valued at $202,000 after purchasing an additional 4,839 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 40.1% in the 4th quarter. Wellington Management Group LLP now owns 935,559 shares of the oil and gas exploration company's stock valued at $11,086,000 after purchasing an additional 267,859 shares in the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil's energy sector and is a listed public company with global capital market presence.

Petrobras's core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil's coast.

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