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

Key Points

• Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from hold to strong sell.
• Analyst sentiment remains mixed overall: while some firms recently cut targets or downgraded the stock, the consensus from MarketBeat still shows a Moderate Buy with a $19.28 target price.
• Petrobras reported solid recent results, including $0.96 EPS and $23.54 billion in quarterly revenue, while the stock opened at $17.23 and has a low beta of 0.33.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "hold" rating and reduced their target price for the company from $20.30 to $19.00 in a report on Friday, March 13th. JPMorgan Chase & Co. cut their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, May 12th. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and raised their price objective for the company from $18.70 to $24.80 in a research note on Friday, April 17th. Finally, Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Sunday, March 22nd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE PBR opened at $17.23 on Tuesday. The stock has a market capitalization of $111.07 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.73 and a beta of 0.33. The business's 50 day moving average is $18.53 and its two-hundred day moving average is $17.21. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $11.43 and a 12-month high of $22.24. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The business had revenue of $23.54 billion during the quarter. Research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current year.

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

A number of institutional investors have recently modified their holdings of PBR. Western Wealth Management LLC purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $176,000. Wealth High Governance Capital Ltda acquired a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $1,453,000. Wealth High Governance Asset Management Ltda. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $1,244,000. NewEdge Advisors LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 71.7% during the 1st quarter. NewEdge Advisors LLC now owns 21,753 shares of the oil and gas exploration company's stock worth $451,000 after purchasing an additional 9,085 shares during the period. Finally, Vestor Capital LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $119,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.