Brokerages Set Petroleo Brasileiro SA Petrobras (PBR) Target Price at $12.00

Shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) have earned a consensus rating of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.00.

PBR has been the subject of a number of recent research reports. Credit Suisse Group lowered shares of Petroleo Brasileiro SA Petrobras to a “hold” rating and set a $12.00 target price for the company. in a report on Thursday, January 18th. Zacks Investment Research raised shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, January 2nd. Goldman Sachs raised shares of Petroleo Brasileiro SA Petrobras from a “sell” rating to a “neutral” rating in a report on Thursday, February 1st. ValuEngine raised shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, HSBC lowered shares of Petroleo Brasileiro SA Petrobras from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd.

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PBR traded down $0.12 during trading on Wednesday, reaching $14.02. 1,366,509 shares of the company traded hands, compared to its average volume of 19,407,252. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.89 and a quick ratio of 1.55. Petroleo Brasileiro SA Petrobras has a 12-month low of $7.61 and a 12-month high of $14.93. The firm has a market cap of $92,224.59, a P/E ratio of 26.68 and a beta of 2.42.

Several hedge funds have recently bought and sold shares of the stock. Capital Growth Management LP purchased a new position in Petroleo Brasileiro SA Petrobras during the fourth quarter worth $66,885,000. Renaissance Technologies LLC boosted its stake in Petroleo Brasileiro SA Petrobras by 36.8% during the fourth quarter. Renaissance Technologies LLC now owns 18,649,600 shares of the oil and gas exploration company’s stock worth $191,904,000 after buying an additional 5,020,300 shares during the period. Bamco Inc. NY purchased a new position in Petroleo Brasileiro SA Petrobras during the fourth quarter worth $49,600,000. Hosking Partners LLP purchased a new position in Petroleo Brasileiro SA Petrobras during the fourth quarter worth $18,808,000. Finally, Point72 Asset Management L.P. purchased a new position in Petroleo Brasileiro SA Petrobras during the third quarter worth $6,239,000. 6.08% of the stock is owned by hedge funds and other institutional investors.

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Petroleo Brasileiro SA Petrobras Company Profile

Petroleo Brasileiro SA-Petrobras specializes in the oil, natural gas and energy industry. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks. Its segments include Exploration and Production, which covers the activities of exploration, development and production of crude oil, natural gas liquid and natural gas; Refining, Transportation and Marketing, which covers the refining, logistics, transport and trading of crude oil and oil products activities, exporting of ethanol, and extraction and processing of shale; Gas and Power, which is engaged in transportation and trading of natural gas produced in Brazil and imported natural gas; Biofuels, which covers the activities of production of biodiesel and its co-products, and ethanol-related activities; Distribution, which includes the activities of its subsidiary Petrobras Distribuidora SA, and Corporate.

Analyst Recommendations for Petroleo Brasileiro SA Petrobras (NYSE:PBR)

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