Petroleo Brasileiro SA Petrobras (PBR) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) from a buy rating to a hold rating in a report released on Monday morning.

According to Zacks, “ADRs of Petrobras have gained 49% over the last six months. This is also backed by encouraging earnings estimate revisions for 2018. The company's impressive portfolio of investments, particularly in Brazil’s pre-salt reservoirs will help it to maintain an impressive production growth profile for years to come. Reflecting that bullishness, the company recently unvieled its five year business plan which has also boosted our optimism on the stock. The company which is undertaking several successful measures to reduce its debts, targets to reduce its debt/EBITDA ratio to 2.5 in 2018. Petrobras’ cost improvement measures and divestment of non-core assets will likely help financials, thereby supporting earnings growth. We like Petrobras robust free cash flow performance which reflects its operational improvement. All these factors form the basis of our bullish stance on  the stock.”

Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Petroleo Brasileiro SA Petrobras from a hold rating to a buy rating in a report on Friday, February 2nd. Credit Suisse Group set a $12.00 price target on shares of Petroleo Brasileiro SA Petrobras and gave the stock a buy rating in a report on Monday, December 25th. Societe Generale downgraded shares of Petroleo Brasileiro SA Petrobras from a buy rating to a hold rating and increased their price target for the stock from $10.51 to $11.00 in a report on Wednesday, October 18th. HSBC downgraded shares of Petroleo Brasileiro SA Petrobras from a buy rating to a hold rating in a report on Tuesday, January 23rd. Finally, Goldman Sachs Group upgraded shares of Petroleo Brasileiro SA Petrobras from a sell rating to a neutral rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $11.73.

Petroleo Brasileiro SA Petrobras (PBR) opened at $12.21 on Monday. Petroleo Brasileiro SA Petrobras has a fifty-two week low of $7.61 and a fifty-two week high of $13.99. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 1.27. The stock has a market cap of $83,223.89, a PE ratio of 23.63 and a beta of 2.69.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, November 14th. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.12). Petroleo Brasileiro SA Petrobras had a net margin of 2.71% and a return on equity of 4.17%. The company had revenue of $22.70 billion for the quarter, compared to analyst estimates of $23.14 billion. sell-side analysts forecast that Petroleo Brasileiro SA Petrobras will post 0.71 EPS for the current year.

Large investors have recently modified their holdings of the stock. IHT Wealth Management LLC acquired a new position in Petroleo Brasileiro SA Petrobras in the 2nd quarter worth approximately $103,000. Quadrant Private Wealth Management LLC acquired a new position in Petroleo Brasileiro SA Petrobras in the 4th quarter worth approximately $123,000. KCS Wealth Advisory acquired a new position in Petroleo Brasileiro SA Petrobras in the 4th quarter worth approximately $136,000. D.A. Davidson & CO. boosted its position in Petroleo Brasileiro SA Petrobras by 276.6% in the 2nd quarter. D.A. Davidson & CO. now owns 13,402 shares of the oil and gas exploration company’s stock worth $107,000 after purchasing an additional 9,843 shares in the last quarter. Finally, Saratoga Research & Investment Management purchased a new stake in Petroleo Brasileiro SA Petrobras in the 3rd quarter worth approximately $194,000. Institutional investors own 5.58% of the company’s stock.

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About Petroleo Brasileiro SA Petrobras

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.

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