PETROLEO BRASIL/ADR (PBR) PT Set at $15.00 by Credit Suisse Group

PETROLEO BRASIL/ADR (NYSE:PBR) received a $15.00 price target from investment analysts at Credit Suisse Group in a research note issued to investors on Tuesday. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Credit Suisse Group’s price target points to a potential downside of 7.69% from the stock’s previous close.

Several other equities research analysts have also commented on PBR. Barclays raised shares of PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Wednesday, July 11th. Zacks Investment Research raised 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 report on Wednesday, July 25th. Societe Generale upped their price target on shares of PETROLEO BRASIL/ADR from $11.00 to $13.50 and gave the company a “hold” rating in a report on Wednesday, August 8th. ValuEngine lowered shares of PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Finally, JPMorgan Chase & Co. raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “overweight” rating and upped their price target for the company from $14.00 to $17.00 in a report on Monday, October 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.10.

Shares of PBR opened at $16.25 on Tuesday. The firm has a market cap of $105.92 billion, a PE ratio of 23.21 and a beta of 2.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.28 and a current ratio of 1.70. PETROLEO BRASIL/ADR has a 1-year low of $9.02 and a 1-year high of $17.20.

PETROLEO BRASIL/ADR (NYSE:PBR) last announced its quarterly earnings data on Friday, August 3rd. The oil and gas exploration company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. The firm 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%. Sell-side analysts anticipate that PETROLEO BRASIL/ADR will post 1.58 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Brave Asset Management Inc. acquired a new position in shares of PETROLEO BRASIL/ADR in the second quarter worth about $102,000. Marathon Trading Investment Management LLC acquired a new position in shares of PETROLEO BRASIL/ADR in the second quarter worth about $107,000. Greenleaf Trust acquired a new position in shares of PETROLEO BRASIL/ADR in the second quarter worth about $112,000. Verition Fund Management LLC acquired a new position in shares of PETROLEO BRASIL/ADR in the second quarter worth about $122,000. Finally, Parallel Advisors LLC raised its position in shares of PETROLEO BRASIL/ADR by 4,501.5% in the second quarter. Parallel Advisors LLC now owns 12,562 shares of the oil and gas exploration company’s stock worth $125,000 after acquiring an additional 12,289 shares during the period. Institutional investors and hedge funds own 6.58% of the company’s stock.

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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