PETROLEO BRASIL/ADR (PBR) Upgraded to Outperform by UBS Group

PETROLEO BRASIL/ADR (NYSE:PBR) was upgraded by equities research analysts at UBS Group from a “neutral” rating to an “outperform” rating in a report issued on Monday, The Fly reports.

PBR has been the topic of several other reports. Zacks Investment Research upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, July 25th. Raymond James upgraded shares of PETROLEO BRASIL/ADR from an “underperform” rating to a “market perform” rating in a research note on Monday, June 11th. They noted that the move was a valuation call. ValuEngine lowered shares of PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. Credit Suisse Group set a $15.00 price objective on PETROLEO BRASIL/ADR and gave the company a “hold” rating in a report on Thursday, September 6th. Finally, Barclays raised PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Wednesday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. PETROLEO BRASIL/ADR presently has a consensus rating of “Hold” and an average price target of $14.98.

PETROLEO BRASIL/ADR stock traded up $1.50 during mid-day trading on Monday, hitting $15.41. The company had a trading volume of 5,081,878 shares, compared to its average volume of 23,307,352. The firm has a market capitalization of $78.72 billion, a P/E ratio of 22.00 and a beta of 2.37. PETROLEO BRASIL/ADR has a 1 year low of $9.02 and a 1 year high of $17.20. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.18.

PETROLEO BRASIL/ADR (NYSE:PBR) last announced its quarterly earnings results on Friday, August 3rd. The oil and gas exploration company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.13. The company had revenue of $23.41 billion for the quarter, compared to analyst estimates of $26.26 billion. PETROLEO BRASIL/ADR had a net margin of 3.60% and a return on equity of 7.89%. As a group, research analysts expect that PETROLEO BRASIL/ADR will post 1.64 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Thomas White International Ltd. boosted its holdings in shares of PETROLEO BRASIL/ADR by 7.0% in the second 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 acquiring an additional 17,490 shares during the period. LPL Financial LLC boosted its holdings in shares of PETROLEO BRASIL/ADR by 34.6% in the first quarter. LPL Financial LLC now owns 27,693 shares of the oil and gas exploration company’s stock valued at $392,000 after acquiring an additional 7,124 shares during the period. TD Asset Management Inc. acquired a new stake in shares of PETROLEO BRASIL/ADR in the second quarter valued at approximately $171,000. Delek Group Ltd. acquired a new stake in shares of PETROLEO BRASIL/ADR in the second quarter valued at approximately $10,653,000. Finally, Marathon Trading Investment Management LLC acquired a new stake in shares of PETROLEO BRASIL/ADR in the second quarter valued at approximately $107,000. 6.61% of the stock is owned by institutional investors and hedge funds.

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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