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Petroleo Brasileiro Petrobras SA (NYSE:PBR)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Thursday. They currently have a $21.00 target price on the stock. Zacks‘s price objective would suggest a potential upside of 3.45% from the company’s current price.

Zacks’ analyst wrote, “We are maintaining our Neutral stance on the Brazilian state-run energy giant Petrobras, reflecting a balanced risk/reward profile. Going forward, the main growth driver will likely be Petrobras’ aim to place itself among the top five oil companies in the world by 2030. We also like the company’s focus on core assets through the divestiture of non profitable resources. However, we are concerned about Petrobras’ increased exploration cost. The huge investment requirements and the possibility of heightened state interference add to its negatives. Consequently, we expect Petrobras’ growth potential to be restrained. “

PBR has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Petroleo Brasileiro Petrobras SA from $21.00 to $23.00 in a research note on Monday, July 28th. Finally, analysts at Morgan Stanley downgraded shares of Petroleo Brasileiro Petrobras SA from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 25th. They now have a $16.00 price target on the stock, down previously from $17.00. Five equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $17.60.

Shares of Petroleo Brasileiro Petrobras SA (NYSE:PBR) traded down 1.92% on Thursday, hitting $19.90. 15,136,179 shares of the company’s stock traded hands. Petroleo Brasileiro Petrobras SA has a one year low of $10.20 and a one year high of $20.94. The stock’s 50-day moving average is $17.16 and its 200-day moving average is $14.5. The company has a market cap of $129.8 billion and a price-to-earnings ratio of 14.88. Petroleo Brasileiro Petrobras SA also was the recipient of unusually large options trading activity on Wednesday. Traders bought 45,232 put options on the stock. This is an increase of approximately 251% compared to the average volume of 12,902 put options.

Petroleo Brasileiro Petrobras SA (NYSE:PBR) last announced its earnings results on Tuesday, August 12th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.12. On average, analysts predict that Petroleo Brasileiro Petrobras SA will post $1.92 earnings per share for the current fiscal year.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) is a Brazil-based integrated oil and gas company.

To get a free copy of the research report on Petroleo Brasileiro Petrobras SA (PBR), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com

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