Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Rating Lowered to Hold at Zacks Research

Key Points

• Petroleo Brasileiro S.A.- Petrobras was downgraded by Zacks Research from a "strong-buy" to a "hold" rating in a recent report, reflecting changing investor sentiment.
• UBS Group also reduced its target price for Petrobras shares from $15.80 to $14.40, while maintaining a "buy" rating, indicating mixed opinions among analysts.
• Petrobras reported earnings of $0.64 EPS for the last quarter, missing analysts' expectations of $0.70 EPS, even as it achieved revenues of $21.04 billion, exceeding estimates.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. UBS Group lowered their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Bank of America downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.14.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR traded up $0.12 during trading on Thursday, hitting $12.74. 17,689,062 shares of the company traded hands, compared to its average volume of 20,964,379. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $15.34. The stock's fifty day moving average is $12.45 and its 200 day moving average is $12.41. The firm has a market cap of $82.07 billion, a P/E ratio of 5.95 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $21.04 billion for the quarter, compared to the consensus estimate of $20.78 billion. As a group, equities analysts predict 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 added to or reduced their stakes in PBR. Financial Gravity Companies Inc. purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras by 74.9% during the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock valued at $30,000 after buying an additional 1,044 shares during the period. Chung Wu Investment Group LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter worth approximately $31,000. Finally, Wayfinding Financial LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $32,000.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.