Wall Street Zen Upgrades Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) to “Strong-Buy”

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. UBS Group upped their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and a consensus price target of $21.16.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.2%

Shares of NYSE PBR opened at $21.61 on Friday. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The firm has a market capitalization of $139.28 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 0.85 and a beta of 0.29. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $19.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Institutional Investors Weigh In On Petroleo Brasileiro S.A.- Petrobras

A number of institutional investors have recently added to or reduced their stakes in PBR. Ameritas Advisory Services LLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at about $31,000. Ascentis Independent Advisors purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $51,000. Harbor Investment Advisory LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $54,000. Vestor Capital LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $119,000. Finally, Inspire Investing LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 8.8% during the first quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock valued at $147,000 after acquiring an additional 574 shares during the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, commonly known as Petrobras, is a Brazilian state-controlled, integrated energy company headquartered in Rio de Janeiro. Founded in 1953, the company is engaged primarily in the exploration, development, production, refining, transportation and marketing of oil and natural gas.

Petrobras has a major focus on offshore operations, particularly the development of Brazil’s pre-salt oil fields in the Santos and Campos basins. Its activities also include the processing and sale of petroleum products, natural gas and biofuels, as well as participation in power generation and other energy-related businesses.

The company serves the Brazilian market through its production, refining, logistics and distribution activities and has historically maintained international operations and partnerships.