JPMorgan Chase & Co. Lowers Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Price Target to $23.00

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) had its target price decreased by research analysts at JPMorgan Chase & Co. from $24.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 25.00% from the stock’s current price.

PBR has been the subject of several other research reports. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.70 to $24.80 in a research note on Friday, April 17th. The Goldman Sachs Group raised their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.28.

Petroleo Brasileiro S.A.- Petrobras Stock Down 1.7%

Shares of NYSE PBR traded down $0.32 during midday trading on Wednesday, hitting $18.40. The company’s stock had a trading volume of 4,817,776 shares, compared to its average volume of 26,253,641. The business’s fifty day simple moving average is $20.43 and its two-hundred day simple moving average is $16.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24. The firm has a market capitalization of $118.58 billion, a price-to-earnings ratio of 5.97, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. The business had revenue of $23.54 billion during the quarter. On average, equities analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current year.

Institutional Trading of Petroleo Brasileiro S.A.- Petrobras

Several institutional investors have recently modified their holdings of the stock. Capital International Investors lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the 4th quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after purchasing an additional 10,425,563 shares in the last quarter. ARGA Investment Management LP lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 0.9% in the 4th quarter. ARGA Investment Management LP now owns 18,975,177 shares of the oil and gas exploration company’s stock valued at $224,856,000 after purchasing an additional 166,472 shares in the last quarter. Mondrian Investment Partners LTD lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 14.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock valued at $149,963,000 after purchasing an additional 1,562,473 shares in the last quarter. Oaktree Capital Management LP purchased a new position in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at about $126,355,000. Finally, Earnest Partners LLC lifted its holdings in Petroleo Brasileiro S.A.- Petrobras by 9.5% in the 4th quarter. Earnest Partners LLC now owns 5,335,330 shares of the oil and gas exploration company’s stock valued at $63,224,000 after purchasing an additional 462,889 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.