Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded by Hsbc Global Res to “Strong-Buy” Rating

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday. The Goldman Sachs Group lifted their price target on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Shares of NYSE PBR opened at $12.95 on Wednesday. The stock’s 50-day simple moving average is $13.74 and its 200-day simple moving average is $14.11. The firm has a market capitalization of $83.42 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 0.18 and a beta of 1.39. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.55 and a fifty-two week high of $17.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94.

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

A number of large investors have recently bought and sold shares of the company. GQG Partners LLC increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% during the fourth quarter. GQG Partners LLC now owns 237,236,034 shares of the oil and gas exploration company’s stock worth $3,050,855,000 after acquiring an additional 6,016,560 shares during the period. Lazard Asset Management LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 16.4% during the 4th quarter. Lazard Asset Management LLC now owns 21,755,839 shares of the oil and gas exploration company’s stock worth $279,779,000 after purchasing an additional 3,072,312 shares during the period. Fisher Asset Management LLC raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 15,887,984 shares of the oil and gas exploration company’s stock worth $204,319,000 after buying an additional 68,337 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at approximately $141,372,000. Finally, Perpetual Ltd lifted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 5.2% in the 4th quarter. Perpetual Ltd now owns 3,315,957 shares of the oil and gas exploration company’s stock valued at $42,643,000 after buying an additional 163,668 shares during the period.

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.