Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Upgraded at HSBC

HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) from a hold rating to a buy rating in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $18.00 target price on the oil and gas exploration company’s stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley downgraded Petróleo Brasileiro S.A. – Petrobras from an overweight rating to an equal weight rating and cut their price objective for the company from $20.00 to $18.00 in a report on Monday, March 11th. Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras has a consensus rating of Moderate Buy and a consensus target price of $16.76.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE PBR opened at $14.94 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.96 and a quick ratio of 0.73. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $10.00 and a 12 month high of $17.91. The stock has a 50 day moving average of $16.35 and a 200-day moving average of $15.73.

Institutional Investors Weigh In On Petróleo Brasileiro S.A. – Petrobras

A number of large investors have recently added to or reduced their stakes in PBR. Driehaus Capital Management LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth $35,559,000. Money Concepts Capital Corp increased its position in Petróleo Brasileiro S.A. – Petrobras by 9.6% during the 3rd quarter. Money Concepts Capital Corp now owns 790,133 shares of the oil and gas exploration company’s stock worth $11,844,000 after buying an additional 69,336 shares during the period. Kestra Advisory Services LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 29.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 26,485 shares of the oil and gas exploration company’s stock worth $397,000 after buying an additional 6,012 shares during the period. Lazard Asset Management LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 9.7% during the 2nd quarter. Lazard Asset Management LLC now owns 29,221,292 shares of the oil and gas exploration company’s stock worth $404,130,000 after buying an additional 2,582,327 shares during the period. Finally, Todd Asset Management LLC increased its position in Petróleo Brasileiro S.A. – Petrobras by 10.4% during the 3rd quarter. Todd Asset Management LLC now owns 2,195,686 shares of the oil and gas exploration company’s stock worth $32,913,000 after buying an additional 205,951 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 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.