Petrobras (PBR) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Petrobras (NYSE:PBR) from a buy rating to a strong-buy rating in a research note issued to investors on Monday, April 2nd.

A number of other equities research analysts have also recently weighed in on the stock. Credit Suisse Group reissued a hold rating and issued a $15.00 price target on shares of Petrobras in a research report on Monday, March 12th. Zacks Investment Research cut shares of Petrobras from a buy rating to a hold rating in a research report on Monday, February 5th. Goldman Sachs raised shares of Petrobras from a sell rating to a neutral rating in a research report on Thursday, February 1st. Finally, HSBC cut shares of Petrobras from a buy rating to a hold rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $12.00.

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Shares of PBR stock traded up $0.27 on Monday, reaching $13.69. 10,155,398 shares of the stock were exchanged, compared to its average volume of 18,752,332. The company has a current ratio of 1.89, a quick ratio of 1.55 and a debt-to-equity ratio of 1.25. The company has a market cap of $90,398.36, a P/E ratio of 19.56 and a beta of 2.42. Petrobras has a twelve month low of $7.61 and a twelve month high of $14.93.

Petrobras (NYSE:PBR) last announced its quarterly earnings results on Thursday, March 15th. The oil and gas exploration company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Petrobras had a negative net margin of 0.10% and a positive return on equity of 4.13%. The firm had revenue of $23.57 billion during the quarter, compared to analysts’ expectations of $26.32 billion. equities analysts forecast that Petrobras will post 1.39 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Investec Asset Management LTD raised its holdings in shares of Petrobras by 7.6% in the fourth quarter. Investec Asset Management LTD now owns 95,733 shares of the oil and gas exploration company’s stock valued at $985,000 after buying an additional 6,733 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Petrobras by 50.2% in the third quarter. Private Advisor Group LLC now owns 29,488 shares of the oil and gas exploration company’s stock valued at $303,000 after buying an additional 9,862 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Petrobras in the fourth quarter valued at about $109,000. Thomas White International Ltd. raised its holdings in shares of Petrobras by 5.3% in the fourth quarter. Thomas White International Ltd. now owns 224,334 shares of the oil and gas exploration company’s stock valued at $2,308,000 after buying an additional 11,195 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in shares of Petrobras by 9.2% in the fourth quarter. TCW Group Inc. now owns 140,000 shares of the oil and gas exploration company’s stock valued at $1,441,000 after buying an additional 11,800 shares during the last quarter. 6.08% of the stock is owned by institutional investors and hedge funds.

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About Petrobras

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Petrobras (NYSE:PBR)

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