Barclays Downgrades PETROLEO BRASIL/ADR (PBR) to Underweight

Barclays lowered shares of PETROLEO BRASIL/ADR (NYSE:PBR) from an overweight rating to an underweight rating in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have $17.00 price objective on the oil and gas exploration company’s stock.

PBR has been the subject of several other research reports. Zacks Investment Research cut shares of PETROLEO BRASIL/ADR from a buy rating to a hold rating in a report on Wednesday, November 14th. UBS Group raised shares of PETROLEO BRASIL/ADR from a neutral rating to an outperform rating in a report on Monday, October 8th. Santander raised shares of PETROLEO BRASIL/ADR from a hold rating to a buy rating in a report on Monday, October 8th. ValuEngine raised shares of PETROLEO BRASIL/ADR from a sell rating to a hold rating in a report on Thursday, September 27th. Finally, Credit Suisse Group set a $15.00 target price on shares of PETROLEO BRASIL/ADR and gave the stock a hold rating in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $16.48.

NYSE:PBR opened at $15.29 on Thursday. PETROLEO BRASIL/ADR has a 12 month low of $9.02 and a 12 month high of $17.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.60 and a quick ratio of 1.18. The firm has a market cap of $101.88 billion, a PE ratio of 21.84 and a beta of 1.55.

PETROLEO BRASIL/ADR (NYSE:PBR) last posted its quarterly earnings data on Tuesday, November 6th. The oil and gas exploration company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.09). PETROLEO BRASIL/ADR had a return on equity of 10.11% and a net margin of 5.21%. The company had revenue of $24.87 billion for the quarter, compared to analyst estimates of $24.51 billion. On average, equities analysts predict that PETROLEO BRASIL/ADR will post 1.46 EPS for the current year.

The company also recently disclosed a dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 31st were issued a $0.019 dividend. The ex-dividend date of this dividend was Friday, December 28th. PETROLEO BRASIL/ADR’s payout ratio is 14.29%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marathon Trading Investment Management LLC purchased a new position in PETROLEO BRASIL/ADR in the second quarter valued at $107,000. Verition Fund Management LLC purchased a new position in PETROLEO BRASIL/ADR in the second quarter valued at $122,000. Campbell & CO Investment Adviser LLC purchased a new position in PETROLEO BRASIL/ADR in the third quarter valued at $131,000. Pictet Asset Management Ltd. purchased a new position in PETROLEO BRASIL/ADR in the third quarter valued at $144,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in PETROLEO BRASIL/ADR by 32.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,495 shares of the oil and gas exploration company’s stock valued at $163,000 after buying an additional 3,271 shares in the last quarter. 6.67% of the stock is owned by institutional investors.

PETROLEO BRASIL/ADR Company Profile

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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