Several brokerages have updated their recommendations and price targets on shares of PETROLEO BRASIL/ADR (NYSE: PBR) in the last few weeks:

  • 11/14/2018 – PETROLEO BRASIL/ADR was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “While Petrobras recently reported weaker-than-expected third-quarter earnings triggered by lower production and spending increase, results were strong overall. Petrobras' upstream unit profit soared from the year-ago period thanks to steady commodity price recovery, while the downstream business – consisting of the refining and marketing activities – also impressed on the back of higher oil products sales margins. Importantly, investors were in for some good news as the company announced surge in net income and EBITDA from the year-ago period. However, it was another quarter that production weakness clipped profits and cut into overall gains from rising oil prices. Moreover, the troubled nation oil company's hike in capital spending and legal costs took a toll on the free cash flow. Hence, investors are advised to wait for a better entry point before buying shares.”
  • 11/7/2018 – PETROLEO BRASIL/ADR was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/5/2018 – PETROLEO BRASIL/ADR was given a new $15.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/30/2018 – PETROLEO BRASIL/ADR was given a new $15.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/27/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/23/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $22.00 price target on the stock.
  • 10/8/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $17.00 price target on the stock, up previously from $14.00.
  • 10/8/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at UBS Group AG from a “neutral” rating to an “outperform” rating.
  • 10/8/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at Santander from a “hold” rating to a “buy” rating.
  • 10/8/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating. They now have a $20.00 price target on the stock.
  • 10/3/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 9/27/2018 – PETROLEO BRASIL/ADR was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

PBR traded down $0.68 during trading on Tuesday, reaching $14.17. The company had a trading volume of 1,779,651 shares, compared to its average volume of 28,774,144. The stock has a market capitalization of $96.92 billion, a P/E ratio of 20.24 and a beta of 1.53. PETROLEO BRASIL/ADR has a 12-month low of $9.02 and a 12-month high of $17.20. The company has a current ratio of 1.60, a quick ratio of 1.18 and a debt-to-equity ratio of 1.14.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its quarterly earnings results on Tuesday, November 6th. The oil and gas exploration company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.09). The company had revenue of $24.87 billion during the quarter, compared to analysts’ expectations of $24.51 billion. PETROLEO BRASIL/ADR had a return on equity of 10.11% and a net margin of 5.21%. On average, research analysts predict that PETROLEO BRASIL/ADR will post 1.51 earnings per share for the current year.

The business also recently declared an annual dividend, which will be paid on Thursday, December 13th. Investors of record on Monday, November 26th will be paid a $0.04 dividend. The ex-dividend date is Friday, November 23rd. This represents a yield of 0.27%. PETROLEO BRASIL/ADR’s dividend payout ratio is currently 5.71%.

A number of institutional investors and hedge funds have recently modified their holdings of PBR. Cambridge Investment Research Advisors Inc. grew its stake in PETROLEO BRASIL/ADR by 32.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,495 shares of the oil and gas exploration company’s stock valued at $163,000 after acquiring an additional 3,271 shares in the last quarter. Thomas White International Ltd. grew its stake in PETROLEO BRASIL/ADR by 1.6% during the 3rd quarter. Thomas White International Ltd. now owns 272,307 shares of the oil and gas exploration company’s stock valued at $3,287,000 after acquiring an additional 4,195 shares in the last quarter. Atria Investments LLC grew its stake in PETROLEO BRASIL/ADR by 23.1% during the 2nd quarter. Atria Investments LLC now owns 24,998 shares of the oil and gas exploration company’s stock valued at $251,000 after acquiring an additional 4,687 shares in the last quarter. AXA grew its stake in PETROLEO BRASIL/ADR by 3.1% during the 3rd quarter. AXA now owns 166,040 shares of the oil and gas exploration company’s stock valued at $2,004,000 after acquiring an additional 5,045 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its stake in PETROLEO BRASIL/ADR by 17.6% during the 3rd quarter. Wetherby Asset Management Inc. now owns 34,915 shares of the oil and gas exploration company’s stock valued at $421,000 after acquiring an additional 5,234 shares in the last quarter. 6.81% of the stock is currently owned by hedge funds and other institutional investors.

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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