Petroleo Brasileiro SA Petrobras (NYSE:PBR) was downgraded by analysts at Credit Suisse Group to a “hold” rating in a research note issued on Thursday. They currently have a $12.00 target price on the oil and gas exploration company’s stock. Credit Suisse Group’s price target would suggest a potential downside of 1.32% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on PBR. Barclays restated an “underweight” rating and issued a $8.00 price objective on shares of Petroleo Brasileiro SA Petrobras in a research report on Wednesday, October 4th. Raymond James Financial restated a “market perform” rating on shares of Petroleo Brasileiro SA Petrobras in a research report on Wednesday, October 4th. Zacks Investment Research cut shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Societe Generale cut shares of Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating and raised their price objective for the company from $10.51 to $11.00 in a research report on Wednesday, October 18th. Finally, ValuEngine cut shares of Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.13.
Petroleo Brasileiro SA Petrobras (PBR) traded up $0.03 on Thursday, reaching $12.16. 15,712,121 shares of the company’s stock traded hands, compared to its average volume of 16,390,000. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 1.27. The firm has a market cap of $76,730.00, a PE ratio of 33.78 and a beta of 2.36. Petroleo Brasileiro SA Petrobras has a 52-week low of $7.61 and a 52-week high of $12.23.
Several hedge funds and other institutional investors have recently modified their holdings of PBR. Janus Henderson Group PLC bought a new position in shares of Petroleo Brasileiro SA Petrobras in the 2nd quarter valued at about $44,588,000. State of Wisconsin Investment Board boosted its stake in shares of Petroleo Brasileiro SA Petrobras by 11,224.8% in the 3rd quarter. State of Wisconsin Investment Board now owns 5,425,589 shares of the oil and gas exploration company’s stock valued at $54,473,000 after purchasing an additional 5,377,680 shares during the last quarter. Horseman Capital Management Ltd bought a new position in shares of Petroleo Brasileiro SA Petrobras in the 3rd quarter valued at about $25,000,000. Balyasny Asset Management LLC bought a new position in shares of Petroleo Brasileiro SA Petrobras in the 2nd quarter valued at about $11,825,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Petroleo Brasileiro SA Petrobras in the 3rd quarter valued at about $6,239,000. 5.57% of the stock is currently owned by institutional investors.
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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.
