Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Get Free Report) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Friday, Marketbeat Ratings reports. They currently have a $16.00 target price on the oil and gas exploration company’s stock. Bank of America‘s price target suggests a potential upside of 8.25% from the stock’s current price.
Separately, StockNews.com raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.96.
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Petróleo Brasileiro S.A. – Petrobras Stock Performance
Petróleo Brasileiro S.A. – Petrobras stock opened at $14.78 on Friday. The firm’s 50 day simple moving average is $16.71 and its 200-day simple moving average is $15.71. The company has a market cap of $96.40 billion, a P/E ratio of 3.59 and a beta of 1.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.70. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $9.56 and a fifty-two week high of $17.91.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the first quarter valued at approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 83.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,169 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at approximately $41,000. Janiczek Wealth Management LLC lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 49.9% in the third quarter. Janiczek Wealth Management LLC now owns 2,756 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 918 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter valued at approximately $45,000. 11.57% of the stock is owned by hedge funds and other institutional investors.
Petróleo Brasileiro S.A. – Petrobras Company Profile
Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also 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.
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Source: defenseworld.net
