Petroleo Brasileiro SA Petrobras (NYSE:PBR) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Tuesday, The Fly reports.
Several other equities analysts have also recently commented on the company. Credit Suisse Group set a $12.00 target price on Petroleo Brasileiro SA Petrobras and gave the company a “buy” rating in a research note on Monday, December 25th. Zacks Investment Research upgraded Petroleo Brasileiro SA Petrobras from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine cut Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Raymond James Financial reiterated a “market perform” rating on shares of Petroleo Brasileiro SA Petrobras in a research note on Wednesday, October 4th. Finally, Societe Generale cut Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating and increased their target price for the company from $10.51 to $11.00 in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Petroleo Brasileiro SA Petrobras currently has a consensus rating of “Hold” and an average target price of $11.13.
Petroleo Brasileiro SA Petrobras (NYSE:PBR) traded down $0.20 during trading on Tuesday, hitting $12.05. The stock had a trading volume of 25,448,146 shares, compared to its average volume of 19,778,254. The stock has a market cap of $76,530.00, a PE ratio of 33.47 and a beta of 2.36. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.66 and a current ratio of 2.02. Petroleo Brasileiro SA Petrobras has a 12 month low of $7.61 and a 12 month high of $12.27.
A number of institutional investors and hedge funds have recently made changes to their positions in PBR. Janus Henderson Group PLC bought a new position in Petroleo Brasileiro SA Petrobras during the second quarter worth $44,588,000. State of Wisconsin Investment Board lifted its stake in Petroleo Brasileiro SA Petrobras by 11,224.8% during the third quarter. State of Wisconsin Investment Board now owns 5,425,589 shares of the oil and gas exploration company’s stock worth $54,473,000 after purchasing an additional 5,377,680 shares during the last quarter. Horseman Capital Management Ltd bought a new position in Petroleo Brasileiro SA Petrobras during the third quarter worth $25,000,000. Balyasny Asset Management LLC bought a new position in Petroleo Brasileiro SA Petrobras during the second quarter worth $11,825,000. Finally, Point72 Asset Management L.P. bought a new position in Petroleo Brasileiro SA Petrobras during the third quarter worth $6,239,000. Hedge funds and other institutional investors own 5.54% of the company’s stock.
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About Petroleo Brasileiro SA Petrobras
Petroleo Brasileiro SA-Petrobras specializes in the oil, natural gas and energy industry. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks. Its segments include Exploration and Production, which covers the activities of exploration, development and production of crude oil, natural gas liquid and natural gas; Refining, Transportation and Marketing, which covers the refining, logistics, transport and trading of crude oil and oil products activities, exporting of ethanol, and extraction and processing of shale; Gas and Power, which is engaged in transportation and trading of natural gas produced in Brazil and imported natural gas; Biofuels, which covers the activities of production of biodiesel and its co-products, and ethanol-related activities; Distribution, which includes the activities of its subsidiary Petrobras Distribuidora SA, and Corporate.
