Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Given New $17.00 Price Target at The Goldman Sachs Group

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its price objective raised by investment analysts at The Goldman Sachs Group from $15.40 to $17.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 23.10% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. UBS Group dropped their price objective on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their target price for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR opened at $13.81 on Tuesday. The firm’s 50 day moving average is $14.32 and its 200-day moving average is $14.76. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $12.90 and a 52-week high of $17.91. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in Petróleo Brasileiro S.A. – Petrobras by 460.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 1,468 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth approximately $30,000. ORG Partners LLC lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% in the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,679 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $32,000. Finally, Bogart Wealth LLC grew its stake in Petróleo Brasileiro S.A. – Petrobras by 571.4% during the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 2,000 shares during the last quarter.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.