Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Rating Upgraded by JPMorgan Chase & Co.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Wednesday, Marketbeat.com reports. The brokerage presently has a $19.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $16.50. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 30.49% from the stock’s previous close.

A number of other research analysts also recently commented on the company. The Goldman Sachs Group cut their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating for the company in a report on Tuesday, August 13th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Monday, August 26th. UBS Group reduced their target price on shares of 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. Finally, Bank of America raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.80 to $17.90 in a report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and an average price target of $18.20.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR opened at $14.56 on Wednesday. The firm has a 50-day simple moving average of $14.67 and a two-hundred day simple moving average of $15.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.90 and a quick ratio of 0.67. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $12.90 and a 52 week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. Equities analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 2.65 EPS for the current year.

Institutional Trading of Petróleo Brasileiro S.A. – Petrobras

Several institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 2.4% in the first quarter. Checchi Capital Advisers LLC now owns 26,509 shares of the oil and gas exploration company’s stock worth $403,000 after buying an additional 615 shares during the period. Founders Capital Management grew its position in Petróleo Brasileiro S.A. – Petrobras by 17.5% in the 1st quarter. Founders Capital Management now owns 4,700 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 700 shares during the last quarter. MAS Advisors LLC increased its stake in Petróleo Brasileiro S.A. – Petrobras by 5.0% in the second quarter. MAS Advisors LLC now owns 15,108 shares of the oil and gas exploration company’s stock worth $219,000 after purchasing an additional 720 shares during the period. Whittier Trust Co. lifted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 1.7% during the first quarter. Whittier Trust Co. now owns 43,569 shares of the oil and gas exploration company’s stock worth $663,000 after purchasing an additional 725 shares during the last quarter. Finally, Financial Security Advisor Inc. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 5.2% during the first quarter. Financial Security Advisor Inc. now owns 17,590 shares of the oil and gas exploration company’s stock valued at $268,000 after purchasing an additional 865 shares during the period.

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.