PETROLEO BRASIL/ADR (NYSE:PBR) Rating Lowered to Hold at ValuEngine

PETROLEO BRASIL/ADR (NYSE:PBR) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

PBR has been the subject of a number of other research reports. Zacks Investment Research upgraded PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Bank of America started coverage on PETROLEO BRASIL/ADR in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $21.00 price objective for the company. Goldman Sachs Group started coverage on PETROLEO BRASIL/ADR in a research note on Thursday, July 11th. They issued a “buy” rating for the company. Credit Suisse Group upgraded PETROLEO BRASIL/ADR from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $15.00 to $21.00 in a research note on Monday, April 8th. Finally, Citigroup reiterated a “buy” rating and issued a $23.00 price objective (up previously from $20.20) on shares of PETROLEO BRASIL/ADR in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $19.19.

PBR stock traded up $0.23 during trading on Thursday, hitting $14.95. 22,373,892 shares of the company’s stock were exchanged, compared to its average volume of 13,784,264. The firm’s 50-day moving average price is $15.82. The firm has a market capitalization of $98.16 billion, a PE ratio of 10.45 and a beta of 1.51. PETROLEO BRASIL/ADR has a 52-week low of $10.16 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.15 and a quick ratio of 0.86.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its earnings results on Thursday, May 2nd. The oil and gas exploration company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). The business had revenue of $21.23 billion for the quarter, compared to analysts’ expectations of $21.65 billion. PETROLEO BRASIL/ADR had a return on equity of 10.35% and a net margin of 6.50%. On average, equities research analysts predict that PETROLEO BRASIL/ADR will post 1.17 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of PBR. Lindbrook Capital LLC lifted its stake in PETROLEO BRASIL/ADR by 72.2% in the first quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 709 shares during the last quarter. Advisory Services Network LLC lifted its stake in PETROLEO BRASIL/ADR by 190.4% in the first quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 3,246 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in PETROLEO BRASIL/ADR in the first quarter valued at approximately $159,000. OLD National Bancorp IN purchased a new stake in PETROLEO BRASIL/ADR in the first quarter valued at approximately $167,000. Finally, Quantamental Technologies LLC acquired a new position in shares of PETROLEO BRASIL/ADR in the first quarter valued at approximately $168,000. Institutional investors own 7.24% of the company’s stock.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It 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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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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