Petroleo Brasileiro SA Petrobras (NYSE:PBR) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) from a buy rating to a hold rating in a research note published on Monday, February 5th.

According to Zacks, “ADRs of Petrobras have gained 49% over the last six months. This is also backed by encouraging earnings estimate revisions for 2018. The company's impressive portfolio of investments, particularly in Brazil’s pre-salt reservoirs will help it to maintain an impressive production growth profile for years to come. Reflecting that bullishness, the company recently unvieled its five year business plan which has also boosted our optimism on the stock. The company which is undertaking several successful measures to reduce its debts, targets to reduce its debt/EBITDA ratio to 2.5 in 2018. Petrobras’ cost improvement measures and divestment of non-core assets will likely help financials, thereby supporting earnings growth. We like Petrobras robust free cash flow performance which reflects its operational improvement. All these factors form the basis of our bullish stance on  the stock.”

PBR has been the topic of several other reports. Credit Suisse Group downgraded shares of Petroleo Brasileiro SA Petrobras to a hold rating and set a $12.00 price objective on the stock. in a research report on Thursday, January 18th. Goldman Sachs Group upgraded shares of Petroleo Brasileiro SA Petrobras from a sell rating to a neutral rating in a research note on Thursday, February 1st. ValuEngine upgraded shares of Petroleo Brasileiro SA Petrobras from a hold rating to a buy rating in a research note on Friday, February 2nd. Barclays set a $10.00 target price on shares of Petroleo Brasileiro SA Petrobras and gave the company a sell rating in a research note on Tuesday, October 10th. Finally, Societe Generale cut shares of Petroleo Brasileiro SA Petrobras from a buy rating to a hold rating and increased their price objective for the stock from $10.51 to $11.00 in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $11.73.

Shares of Petroleo Brasileiro SA Petrobras (NYSE PBR) opened at $12.35 on Monday. The firm has a market cap of $80,484.55, a PE ratio of 33.46 and a beta of 2.69. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.02 and a quick ratio of 1.66. Petroleo Brasileiro SA Petrobras has a 1 year low of $7.61 and a 1 year high of $13.99.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) last released its earnings results on Tuesday, November 14th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the Zacks’ 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%. The business had revenue of $22.70 billion during the quarter, compared to analysts’ expectations of $23.14 billion. research analysts anticipate that Petroleo Brasileiro SA Petrobras will post 0.71 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP grew its holdings in shares of Petroleo Brasileiro SA Petrobras by 402.2% in the third quarter. Quantbot Technologies LP now owns 143,884 shares of the oil and gas exploration company’s stock valued at $1,444,000 after purchasing an additional 115,234 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Petroleo Brasileiro SA Petrobras by 15.5% in the third quarter. First Trust Advisors LP now owns 226,815 shares of the oil and gas exploration company’s stock valued at $2,277,000 after purchasing an additional 30,375 shares in the last quarter. Axiom International Investors LLC DE grew its holdings in shares of Petroleo Brasileiro SA Petrobras by 1.1% in the third quarter. Axiom International Investors LLC DE now owns 7,915,970 shares of the oil and gas exploration company’s stock valued at $79,476,000 after purchasing an additional 89,940 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in shares of Petroleo Brasileiro SA Petrobras by 24.5% in the third quarter. Thornburg Investment Management Inc. now owns 2,020,443 shares of the oil and gas exploration company’s stock valued at $20,285,000 after purchasing an additional 397,390 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in shares of Petroleo Brasileiro SA Petrobras by 11,224.8% in the third quarter. State of Wisconsin Investment Board now owns 5,425,589 shares of the oil and gas exploration company’s stock valued at $54,473,000 after purchasing an additional 5,377,680 shares in the last quarter. 5.54% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This story was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/13/petroleo-brasileiro-sa-petrobras-pbr-lowered-to-hold-at-zacks-investment-research.html.

About Petroleo Brasileiro SA Petrobras

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.

Get a free copy of the Zacks research report on Petroleo Brasileiro SA Petrobras (PBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Petroleo Brasileiro SA Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petroleo Brasileiro SA Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply