PETROLEO BRASIL/ADR (NYSE:PBR) Raised to Buy at ValuEngine

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PETROLEO BRASIL/ADR (NYSE:PBR) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday, ValuEngine reports.

PBR has been the topic of a number of other reports. Citigroup reiterated a “buy” rating and issued a $23.00 price target (up from $20.20) on shares of PETROLEO BRASIL/ADR in a research report on Monday, July 8th. Goldman Sachs Group began coverage on PETROLEO BRASIL/ADR in a research report on Thursday, July 11th. They issued a “buy” rating on the stock. Finally, Bank of America began coverage on PETROLEO BRASIL/ADR in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.50.

Shares of PBR traded up $0.11 on Monday, reaching $14.64. 9,162,190 shares of the stock traded hands, compared to its average volume of 15,961,104. The firm has a market cap of $95.19 billion, a price-to-earnings ratio of 10.24 and a beta of 1.39. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.06. PETROLEO BRASIL/ADR has a 12 month low of $11.89 and a 12 month high of $17.90. The stock’s 50-day moving average price is $14.36 and its 200-day moving average price is $14.87.

PETROLEO BRASIL/ADR (NYSE:PBR) last released its quarterly earnings data on Monday, August 5th. The oil and gas exploration company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.38. The business had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $22.35 billion. PETROLEO BRASIL/ADR had a return on equity of 12.74% and a net margin of 9.12%. As a group, equities research analysts forecast that PETROLEO BRASIL/ADR will post 1.35 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. RWC Asset Advisors US LLC grew its position in PETROLEO BRASIL/ADR by 73.2% in the second quarter. RWC Asset Advisors US LLC now owns 11,689,725 shares of the oil and gas exploration company’s stock valued at $182,008,000 after acquiring an additional 4,941,933 shares during the period. Investec Asset Management LTD bought a new stake in shares of PETROLEO BRASIL/ADR during the second quarter worth $113,445,000. RWC Asset Management LLP grew its holdings in shares of PETROLEO BRASIL/ADR by 63.2% during the second quarter. RWC Asset Management LLP now owns 2,924,832 shares of the oil and gas exploration company’s stock worth $45,540,000 after purchasing an additional 1,132,749 shares during the last quarter. Investec Asset Management North America Inc. bought a new stake in shares of PETROLEO BRASIL/ADR during the second quarter worth $33,770,000. Finally, Marshall Wace North America L.P. grew its holdings in shares of PETROLEO BRASIL/ADR by 104.8% during the second quarter. Marshall Wace North America L.P. now owns 1,742,823 shares of the oil and gas exploration company’s stock worth $27,136,000 after purchasing an additional 891,651 shares during the last quarter. Hedge funds and other institutional investors own 7.65% of the company’s stock.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It 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.

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Analyst Recommendations for PETROLEO BRASIL/ADR (NYSE:PBR)

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