Equities research analysts expect Petroleo Brasileiro SA Petrobras (NYSE:PBR) to report sales of $24.19 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Petroleo Brasileiro SA Petrobras’ earnings, with the highest sales estimate coming in at $26.17 billion and the lowest estimate coming in at $22.21 billion. Petroleo Brasileiro SA Petrobras posted sales of $17.99 billion in the same quarter last year, which would indicate a positive year over year growth rate of 34.5%. The firm is scheduled to report its next earnings report on Thursday, May 11th.

According to Zacks, analysts expect that Petroleo Brasileiro SA Petrobras will report full year sales of $24.19 billion for the current fiscal year, with estimates ranging from $85.54 billion to $118.55 billion. For the next financial year, analysts forecast that the business will report sales of $99.35 billion per share, with estimates ranging from $74.86 billion to $132.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Petroleo Brasileiro SA Petrobras.

Several analysts recently issued reports on PBR shares. Barclays PLC reissued an “underweight” rating and issued a $11.00 price target on shares of Petroleo Brasileiro SA Petrobras in a research report on Wednesday, February 1st. Credit Suisse Group AG set a $11.00 price target on shares of Petroleo Brasileiro SA Petrobras and gave the company a “hold” rating in a research report on Saturday, February 4th. JPMorgan Chase & Co. raised shares of Petroleo Brasileiro SA Petrobras from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $10.42 to $10.63 in a research report on Monday, February 13th. Zacks Investment Research downgraded shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 21st. Finally, Societe Generale raised shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “buy” rating in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $10.97.

A number of institutional investors have recently modified their holdings of the stock. Horseman Capital Management Ltd boosted its position in shares of Petroleo Brasileiro SA Petrobras by 28.6% in the third quarter. Horseman Capital Management Ltd now owns 9,775,300 shares of the oil and gas exploration company’s stock valued at $91,204,000 after buying an additional 2,175,300 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Petroleo Brasileiro SA Petrobras by 128.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 147,353 shares of the oil and gas exploration company’s stock valued at $1,375,000 after buying an additional 82,943 shares during the period. Ayalon Holdings Ltd. boosted its position in shares of Petroleo Brasileiro SA Petrobras by 29.2% in the third quarter. Ayalon Holdings Ltd. now owns 15,500 shares of the oil and gas exploration company’s stock valued at $145,000 after buying an additional 3,500 shares during the period. Jabre Capital Partners S.A. bought a new position in shares of Petroleo Brasileiro SA Petrobras during the third quarter valued at $2,799,000. Finally, Two Sigma Securities LLC bought a new position in shares of Petroleo Brasileiro SA Petrobras during the third quarter valued at $156,000. Institutional investors and hedge funds own 6.03% of the company’s stock.

Shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) traded up 4.80% on Thursday, reaching $8.96. 39,367,477 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $9.45 and its 200-day moving average price is $10.10. Petroleo Brasileiro SA Petrobras has a 52-week low of $5.45 and a 52-week high of $12.56. The stock’s market cap is $58.44 billion. Petroleo Brasileiro SA Petrobras also was the target of some unusual options trading activity on Thursday. Traders purchased 3,116 put options on the stock. This is an increase of approximately 396% compared to the typical volume of 628 put options.

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