Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Price Target Raised to $17.40

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price target upped by UBS Group from $17.20 to $17.40 in a report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Several other equities analysts have also recently commented on PBR. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a hold rating to a buy rating and set a $18.00 target price for the company in a research note on Monday. Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a buy rating to a neutral rating and set a $16.00 target price for the company. in a research note on Friday, March 8th. Finally, Morgan Stanley cut Petróleo Brasileiro S.A. – Petrobras from an overweight rating to an equal weight rating and reduced their target price for the company from $20.00 to $18.00 in a research note on Monday, March 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE:PBR opened at $15.21 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $10.01 and a 52-week high of $17.91. The company has a 50 day moving average of $16.33 and a two-hundred day moving average of $15.73.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several institutional investors have recently modified their holdings of PBR. Raymond James & Associates grew its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 58.3% during the first quarter. Raymond James & Associates now owns 142,949 shares of the oil and gas exploration company’s stock worth $2,116,000 after purchasing an additional 52,626 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 117.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 48,997 shares of the oil and gas exploration company’s stock worth $725,000 after acquiring an additional 26,512 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $801,000. Private Advisor Group LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $320,000. Finally, Allianz Asset Management GmbH acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $11,529,000.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.