PETROLEO BRASIL/ADR (PBR) Lifted to Buy at ValuEngine

PETROLEO BRASIL/ADR (NYSE:PBR) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Saturday, October 27th.

Several other research firms also recently issued reports on PBR. JPMorgan Chase & Co. raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $17.00 in a research report on Monday, October 8th. Bank of America raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, October 8th. Morgan Stanley raised shares of PETROLEO BRASIL/ADR from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Tuesday, October 23rd. Barclays raised shares of PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Wednesday, July 11th. Finally, Credit Suisse Group set a $15.00 price target on shares of PETROLEO BRASIL/ADR and gave the company a “hold” rating in a research report on Thursday, September 6th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.10.

NYSE PBR traded up $0.39 during mid-day trading on Friday, hitting $14.37. The company’s stock had a trading volume of 20,458,625 shares, compared to its average volume of 28,688,980. PETROLEO BRASIL/ADR has a twelve month low of $9.02 and a twelve month high of $17.20. The company has a current ratio of 1.60, a quick ratio of 1.18 and a debt-to-equity ratio of 1.14. The company has a market cap of $91.18 billion, a P/E ratio of 20.53 and a beta of 1.53.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its quarterly earnings results on Tuesday, November 6th. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). PETROLEO BRASIL/ADR had a net margin of 5.21% and a return on equity of 10.11%. The business had revenue of $24.87 billion during the quarter, compared to analyst estimates of $24.51 billion. Sell-side analysts predict that PETROLEO BRASIL/ADR will post 1.52 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Brave Asset Management Inc. purchased a new position in PETROLEO BRASIL/ADR during the 2nd quarter worth $102,000. Marathon Trading Investment Management LLC purchased a new position in shares of PETROLEO BRASIL/ADR in the 2nd quarter worth about $107,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of PETROLEO BRASIL/ADR in the 3rd quarter worth about $131,000. Greenleaf Trust purchased a new position in shares of PETROLEO BRASIL/ADR in the 2nd quarter worth about $112,000. Finally, Verition Fund Management LLC purchased a new position in shares of PETROLEO BRASIL/ADR in the 2nd quarter worth about $122,000. 6.81% of the stock is currently owned by hedge funds and other institutional investors.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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