Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Lowered to Hold at HSBC

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Thursday, The Fly reports.

A number of other analysts also recently commented on PBR. Zacks Investment Research downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Monday, August 23rd. Credit Suisse Group upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Thursday, August 5th. Finally, Scotiabank upgraded Petróleo Brasileiro S.A. – Petrobras from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $15.50 to $16.00 in a research note on Thursday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Hold” and a consensus target price of $12.14.

Shares of PBR stock opened at $11.05 on Thursday. The stock’s 50-day simple moving average is $10.56 and its 200-day simple moving average is $10.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.31. The firm has a market capitalization of $72.07 billion, a PE ratio of 3.71, a P/E/G ratio of 0.21 and a beta of 1.75. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $6.15 and a fifty-two week high of $12.38.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings data on Wednesday, August 4th. The oil and gas exploration company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.26. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 23.98% and a net margin of 30.71%. The business had revenue of $20.98 billion for the quarter, compared to analyst estimates of $19.17 billion. Sell-side analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 2.33 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GQG Partners LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the second quarter valued at approximately $1,698,957,000. TT International Asset Management LTD lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 1,187.3% in the second quarter. TT International Asset Management LTD now owns 15,094,946 shares of the oil and gas exploration company’s stock valued at $184,611,000 after acquiring an additional 13,922,353 shares in the last quarter. Pendal Group Limited lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 52.2% in the first quarter. Pendal Group Limited now owns 13,577,790 shares of the oil and gas exploration company’s stock valued at $115,140,000 after acquiring an additional 4,658,919 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 7.6% in the first quarter. Earnest Partners LLC now owns 10,072,634 shares of the oil and gas exploration company’s stock valued at $85,416,000 after acquiring an additional 712,694 shares in the last quarter. Finally, Oaktree Capital Management LP lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 51.3% in the first quarter. Oaktree Capital Management LP now owns 9,548,807 shares of the oil and gas exploration company’s stock valued at $80,974,000 after acquiring an additional 3,237,598 shares in the last quarter. Institutional investors and hedge funds own 10.73% of the company’s stock.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA engages in oil and gas exploration, production, and distribution activities. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Gas and Power; and Corporate and Other Business. The Exploration and Production segment involves crude oil, natural gas liquids, and natural gas exploration, development, and production.

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