PETROLEO BRASIL/ADR (PBR) Given a $15.00 Price Target at Credit Suisse Group

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Credit Suisse Group set a $15.00 price objective on PETROLEO BRASIL/ADR (NYSE:PBR) in a research report sent to investors on Monday. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.

Several other research analysts have also commented on the company. ValuEngine raised PETROLEO BRASIL/ADR from a hold rating to a buy rating in a research report on Saturday, October 27th. Morgan Stanley raised PETROLEO BRASIL/ADR from an equal weight rating to an overweight rating and set a $22.00 price target for the company in a research report on Tuesday, October 23rd. UBS Group raised PETROLEO BRASIL/ADR from a neutral rating to an outperform rating in a research report on Monday, October 8th. Santander raised PETROLEO BRASIL/ADR from a hold rating to a buy rating in a research report on Monday, October 8th. Finally, Bank of America raised PETROLEO BRASIL/ADR from a neutral rating to a buy rating and set a $20.00 price target for the company in a research report on Monday, October 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PETROLEO BRASIL/ADR has a consensus rating of Buy and an average target price of $16.10.

NYSE PBR traded down $0.33 on Monday, reaching $16.09. 8,558,740 shares of the stock traded hands, compared to its average volume of 35,755,696. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The firm has a market cap of $105.20 billion, a PE ratio of 22.99 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.

PETROLEO BRASIL/ADR (NYSE:PBR) last released its quarterly earnings results on Friday, August 3rd. The oil and gas exploration company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.13. The firm had revenue of $23.41 billion during the quarter, compared to analyst estimates of $26.26 billion. PETROLEO BRASIL/ADR had a return on equity of 7.89% and a net margin of 3.60%. On average, research analysts expect that PETROLEO BRASIL/ADR will post 1.58 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Thomas White International Ltd. increased its position in PETROLEO BRASIL/ADR by 7.0% during the 2nd quarter. Thomas White International Ltd. now owns 268,112 shares of the oil and gas exploration company’s stock valued at $2,689,000 after buying an additional 17,490 shares in the last quarter. LPL Financial LLC increased its position in PETROLEO BRASIL/ADR by 34.6% during the 1st quarter. LPL Financial LLC now owns 27,693 shares of the oil and gas exploration company’s stock valued at $392,000 after buying an additional 7,124 shares in the last quarter. Aperio Group LLC increased its position in PETROLEO BRASIL/ADR by 9.4% during the 3rd quarter. Aperio Group LLC now owns 862,869 shares of the oil and gas exploration company’s stock valued at $10,415,000 after buying an additional 73,785 shares in the last quarter. TD Asset Management Inc. acquired a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at about $171,000. Finally, Delek Group Ltd. acquired a new position in PETROLEO BRASIL/ADR during the 2nd quarter valued at about $10,653,000. 6.69% of the stock is currently owned by institutional investors.

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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