Petroleo Brasileiro SA Petrobras (PBR) Rating Lowered to Hold at Credit Suisse Group

Petroleo Brasileiro SA Petrobras (NYSE:PBR) was downgraded by research analysts at Credit Suisse Group to a “hold” rating in a note issued to investors on Thursday. They presently have a $12.00 price objective on the oil and gas exploration company’s stock. Credit Suisse Group’s price target would indicate a potential downside of 1.07% from the stock’s current price.

PBR has been the topic of several other research reports. Zacks Investment Research lowered Petroleo Brasileiro SA Petrobras from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. ValuEngine downgraded Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st. Barclays set a $10.00 price target on Petroleo Brasileiro SA Petrobras and gave the stock a “sell” rating in a report on Tuesday, October 10th. Raymond James Financial restated a “market perform” rating on shares of Petroleo Brasileiro SA Petrobras in a report on Wednesday, October 4th. Finally, Societe Generale downgraded Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating and upped their price target for the stock from $10.51 to $11.00 in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.13.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) opened at $12.13 on Thursday. Petroleo Brasileiro SA Petrobras has a 12 month low of $7.61 and a 12 month high of $12.23. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $76,540.00, a PE ratio of 33.69 and a beta of 2.36.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) last posted its earnings results on Tuesday, November 14th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.12). Petroleo Brasileiro SA Petrobras had a return on equity of 4.17% and a net margin of 2.71%. analysts forecast that Petroleo Brasileiro SA Petrobras will post 0.72 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of PBR. Janus Henderson Group PLC purchased a new stake in Petroleo Brasileiro SA Petrobras during the 2nd quarter worth about $44,588,000. State of Wisconsin Investment Board increased its holdings in Petroleo Brasileiro SA Petrobras by 11,224.8% during the 3rd quarter. State of Wisconsin Investment Board now owns 5,425,589 shares of the oil and gas exploration company’s stock worth $54,473,000 after purchasing an additional 5,377,680 shares during the period. Horseman Capital Management Ltd purchased a new stake in Petroleo Brasileiro SA Petrobras during the 3rd quarter worth about $25,000,000. Balyasny Asset Management LLC purchased a new stake in Petroleo Brasileiro SA Petrobras during the 2nd quarter worth about $11,825,000. Finally, Point72 Asset Management L.P. purchased a new stake in Petroleo Brasileiro SA Petrobras during the 3rd quarter worth about $6,239,000. Institutional investors own 5.57% of the company’s stock.

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Petroleo Brasileiro SA Petrobras Company Profile

Petroleo Brasileiro SA-Petrobras specializes in the oil, natural gas and energy industry. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks. Its segments include Exploration and Production, which covers the activities of exploration, development and production of crude oil, natural gas liquid and natural gas; Refining, Transportation and Marketing, which covers the refining, logistics, transport and trading of crude oil and oil products activities, exporting of ethanol, and extraction and processing of shale; Gas and Power, which is engaged in transportation and trading of natural gas produced in Brazil and imported natural gas; Biofuels, which covers the activities of production of biodiesel and its co-products, and ethanol-related activities; Distribution, which includes the activities of its subsidiary Petrobras Distribuidora SA, and Corporate.

Analyst Recommendations for Petroleo Brasileiro SA Petrobras (NYSE:PBR)

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