PETROLEO BRASIL/ADR (PBR) Shares Gap Down to $15.10

PETROLEO BRASIL/ADR (NYSE:PBR) gapped down before the market opened on Thursday . The stock had previously closed at $14.65, but opened at $15.10. PETROLEO BRASIL/ADR shares last traded at $15.08, with a volume of 2374161 shares trading hands.

PBR has been the topic of a number of research reports. Zacks Investment Research raised shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, July 25th. Santander raised shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Monday, October 8th. Bank of America raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, October 8th. ValuEngine raised shares of PETROLEO BRASIL/ADR from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Credit Suisse Group set a $15.00 target price on shares of PETROLEO BRASIL/ADR and gave the company a “hold” rating in a research note on Thursday, September 6th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $14.98.

The company has a market cap of $78.72 billion, a price-to-earnings ratio of 21.74 and a beta of 2.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.28 and a current ratio of 1.70.

PETROLEO BRASIL/ADR (NYSE:PBR) last announced its earnings results on Friday, August 3rd. The oil and gas exploration company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. The firm had revenue of $23.41 billion for the quarter, compared to analyst estimates of $26.26 billion. PETROLEO BRASIL/ADR had a net margin of 3.60% and a return on equity of 7.89%. As a group, equities analysts predict that PETROLEO BRASIL/ADR will post 1.64 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brave Asset Management Inc. purchased a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at about $102,000. Marathon Trading Investment Management LLC purchased a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at about $107,000. Greenleaf Trust purchased a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at about $112,000. Verition Fund Management LLC purchased a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at about $122,000. Finally, Parallel Advisors LLC lifted its position in PETROLEO BRASIL/ADR by 4,501.5% during the 2nd quarter. Parallel Advisors LLC now owns 12,562 shares of the oil and gas exploration company’s stock valued at $125,000 after acquiring an additional 12,289 shares during the period. 6.61% of the stock is currently owned by hedge funds and other institutional investors.

About PETROLEO BRASIL/ADR (NYSE:PBR)

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.

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