Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target Raised to $17.40

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price objective raised by UBS Group from $17.20 to $17.40 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other brokerages also recently commented on PBR. Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a buy rating to a neutral rating and set a $16.00 target price on the stock. in a research note on Friday, March 8th. Morgan Stanley downgraded Petróleo Brasileiro S.A. – Petrobras from an overweight rating to an equal weight rating and lowered their target price for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. Finally, HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $16.76.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of PBR stock opened at $14.94 on Monday. The stock’s 50-day simple moving average is $16.35 and its 200-day simple moving average is $15.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.96 and a quick ratio of 0.73. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $10.00 and a fifty-two week high of $17.91.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 83.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 1,169 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at approximately $41,000. Janiczek Wealth Management LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 49.9% in the third quarter. Janiczek Wealth Management LLC now owns 2,756 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 918 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at approximately $45,000.

Petróleo 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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.