PETROLEO BRASIL/ADR (NYSE:PBR) Raised to Buy at ValuEngine

PETROLEO BRASIL/ADR (NYSE:PBR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday, ValuEngine reports.

PBR has been the topic of several other research reports. Bank of America initiated coverage on PETROLEO BRASIL/ADR in a research note on Wednesday, July 3rd. They set a “buy” rating and a $21.00 target price on the stock. Goldman Sachs Group initiated coverage on PETROLEO BRASIL/ADR in a research note on Thursday, July 11th. They set a “buy” rating on the stock. Finally, Citigroup reaffirmed a “buy” rating and set a $23.00 target price (up previously from $20.20) on shares of PETROLEO BRASIL/ADR in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $20.50.

NYSE:PBR traded up $0.11 on Monday, hitting $14.64. 9,162,190 shares of the company’s stock traded hands, compared to its average volume of 15,961,104. The company has a current ratio of 1.31, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11. PETROLEO BRASIL/ADR has a 1 year low of $11.89 and a 1 year high of $17.90. The firm has a 50-day moving average price of $14.36 and a 200-day moving average price of $14.87. The company has a market cap of $95.19 billion, a PE ratio of 10.24 and a beta of 1.39.

PETROLEO BRASIL/ADR (NYSE:PBR) last released its earnings results on Monday, August 5th. The oil and gas exploration company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.38. PETROLEO BRASIL/ADR had a return on equity of 12.74% and a net margin of 9.12%. The company had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $22.35 billion. On average, research analysts forecast that PETROLEO BRASIL/ADR will post 1.35 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its stake in shares of PETROLEO BRASIL/ADR by 190.4% in the 1st quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 3,246 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $133,000. Corient Capital Partners LLC bought a new stake in shares of PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $159,000. OLD National Bancorp IN grew its stake in shares of PETROLEO BRASIL/ADR by 14.1% in the 2nd quarter. OLD National Bancorp IN now owns 11,940 shares of the oil and gas exploration company’s stock valued at $186,000 after buying an additional 1,479 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of PETROLEO BRASIL/ADR in the 2nd quarter valued at approximately $201,000. 7.65% of the stock is owned by institutional investors and hedge funds.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It 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.

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

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