PETROLEO BRASIL/ADR (NYSE:PBR) gapped down before the market opened on Tuesday . The stock had previously closed at $16.81, but opened at $16.42. PETROLEO BRASIL/ADR shares last traded at $15.87, with a volume of 24046838 shares traded.
Several equities research analysts have recently commented on PBR shares. JPMorgan Chase & Co. raised PETROLEO BRASIL/ADR from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $17.00 in a research note on Monday, October 8th. Bank of America raised PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, October 8th. Morgan Stanley raised PETROLEO BRASIL/ADR from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, October 23rd. Credit Suisse Group set a $15.00 price target on PETROLEO BRASIL/ADR and gave the stock a “hold” rating in a research note on Monday. Finally, Barclays raised PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Wednesday, July 11th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $16.10.
The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 1.28. The stock has a market capitalization of $105.20 billion, a PE ratio of 22.67 and a beta of 1.53.
PETROLEO BRASIL/ADR (NYSE:PBR) last issued its quarterly earnings data on Friday, August 3rd. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.13. PETROLEO BRASIL/ADR had a return on equity of 7.89% and a net margin of 3.60%. The firm had revenue of $23.41 billion during the quarter, compared to the consensus estimate of $26.26 billion. As a group, research analysts forecast that PETROLEO BRASIL/ADR will post 1.58 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Brave Asset Management Inc. acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $102,000. Marathon Trading Investment Management LLC acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $107,000. Greenleaf Trust acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $112,000. Verition Fund Management LLC acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $122,000. Finally, Parallel Advisors LLC raised its holdings in PETROLEO BRASIL/ADR by 4,501.5% in 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 last quarter. Hedge funds and other institutional investors own 6.69% of the company’s stock.
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PETROLEO BRASIL/ADR Company Profile (NYSE:PBR)
PetrÃ³leo 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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