Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Upgraded at Zacks Research

Key Points

• Petroleo Brasileiro S.A.- Petrobras has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, reflecting improved investor confidence in the stock.
• The stock currently has a consensus rating of "Buy" with a target price of $17.26, as analysts assess its potential for growth despite missing previous earnings estimates.
• Several large investors are increasing their stakes in Petrobras, indicating positive sentiment towards the company's future in the oil and gas sector.

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

Several other equities analysts also recently commented on PBR. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Jefferies Financial Group upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price target for the company in a research note on Thursday, May 15th. Finally, Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.26.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE:PBR opened at $11.9350 on Wednesday. The firm's fifty day moving average price is $12.58 and its two-hundred day moving average price is $12.64. 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 company has a market cap of $76.91 billion, a P/E ratio of 5.58 and a beta of 0.85. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $15.73.

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

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several large investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company's stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $31,000. Finally, Wayfinding Financial LLC bought 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.

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