Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Rating Lowered by Grupo Santander

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was downgraded by equities researchers at Grupo Santander from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports.

Several other research analysts have also recently weighed in on the stock. UBS Group cut shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $13.00 to $9.00 in a research note on Monday. Scotiabank cut shares of Petróleo Brasileiro S.A. – Petrobras from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $15.25 to $14.00 in a research note on Monday. They noted that the move was a valuation call. Bradesco Corretora cut shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating in a research note on Monday, February 8th. JPMorgan Chase & Co. cut shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $17.00 to $9.00 in a research note on Monday. Finally, Credit Suisse Group cut shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to an “underperform” rating in a research note on Monday. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Sell” and a consensus target price of $10.75.

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $7.94 on Monday. The company’s fifty day simple moving average is $10.78 and its 200-day simple moving average is $9.24. The stock has a market capitalization of $51.79 billion, a PE ratio of 6.73 and a beta of 2.04. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $4.01 and a 1-year high of $13.30. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.08 and a quick ratio of 0.87.

Hedge funds have recently made changes to their positions in the business. Inspire Advisors LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth $26,000. International Assets Investment Management LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth $81,000. Platinum Investment Management Ltd. purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth $64,000. Finally, OneAscent Financial Services LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth $74,000. Institutional investors and hedge funds own 9.26% of the company’s stock.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras produce and sells oil and gas 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.

See Also: What is a CD ladder?

The Fly

Analyst Recommendations for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Receive News & Ratings for Petróleo Brasileiro S.A. - Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petróleo Brasileiro S.A. - Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.