Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Rating Lowered to Hold at Hsbc Global Res

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $20.00 in a research report on Monday, August 26th. HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $16.80 to $17.90 in a report on Thursday, June 27th. UBS Group reduced their price target on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.20.

Petróleo Brasileiro S.A. – Petrobras Price Performance

PBR opened at $13.88 on Monday. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.90 and a 1 year high of $17.91. The company’s 50 day simple moving average is $14.80 and its 200 day simple moving average is $15.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $23.47 billion for the quarter, compared to analyst estimates of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 16.17% and a return on equity of 28.42%. On average, equities analysts forecast that Petróleo Brasileiro S.A. – Petrobras will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Encompass Capital Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at about $73,174,000. Norden Group LLC raised its position in Petróleo Brasileiro S.A. – Petrobras by 3,457.9% in the first quarter. Norden Group LLC now owns 2,919,298 shares of the oil and gas exploration company’s stock worth $44,403,000 after purchasing an additional 2,837,247 shares in the last quarter. Mondrian Investment Partners LTD lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 23.0% during the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after purchasing an additional 1,889,313 shares during the period. Artemis Investment Management LLP boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 27.7% during the first quarter. Artemis Investment Management LLP now owns 6,278,919 shares of the oil and gas exploration company’s stock valued at $95,452,000 after purchasing an additional 1,362,108 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Petróleo Brasileiro S.A. – Petrobras by 38.4% in the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after acquiring an additional 1,039,700 shares during the period.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.