PETROLEO BRASIL/ADR (NYSE:PBR) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other analysts have also issued reports on the stock. 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 report on Thursday, September 6th. Barclays raised shares of PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Wednesday, July 11th. Societe Generale lifted their price target on shares of PETROLEO BRASIL/ADR from $11.00 to $13.50 and gave the company a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $17.00 in a report on Monday, October 8th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $16.10.

Shares of NYSE PBR opened at $16.24 on Friday. 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 company has a market cap of $105.92 billion, a P/E ratio of 23.20 and a beta of 2.37. PETROLEO BRASIL/ADR has a 12-month low of $9.02 and a 12-month high of $17.20.

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 (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.13. The company had revenue of $23.41 billion during 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%. Equities research analysts anticipate that PETROLEO BRASIL/ADR will post 1.58 EPS for the current year.

A number of large investors have recently modified their holdings of PBR. LPL Financial LLC lifted its holdings in PETROLEO BRASIL/ADR by 34.6% during the first quarter. LPL Financial LLC now owns 27,693 shares of the oil and gas exploration company’s stock valued at $392,000 after purchasing an additional 7,124 shares in the last quarter. Dorsey Wright & Associates lifted its holdings in PETROLEO BRASIL/ADR by 7.3% during the second quarter. Dorsey Wright & Associates now owns 766,946 shares of the oil and gas exploration company’s stock valued at $7,600,000 after purchasing an additional 52,355 shares in the last quarter. Investment House LLC purchased a new position in PETROLEO BRASIL/ADR during the second quarter valued at approximately $1,088,000. Atria Investments LLC lifted its holdings in PETROLEO BRASIL/ADR by 23.1% during the second quarter. Atria Investments LLC now owns 24,998 shares of the oil and gas exploration company’s stock valued at $251,000 after purchasing an additional 4,687 shares in the last quarter. Finally, Brave Asset Management Inc. purchased a new position in PETROLEO BRASIL/ADR during the second quarter valued at approximately $102,000. 6.59% of the stock is currently owned by institutional investors and hedge funds.

About PETROLEO BRASIL/ADR

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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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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