PETROLEO BRASIL/ADR (PBR) Shares Gap Up to $15.38

Shares of PETROLEO BRASIL/ADR (NYSE:PBR) gapped up before the market opened on Tuesday . The stock had previously closed at $15.15, but opened at $15.38. PETROLEO BRASIL/ADR shares last traded at $15.78, with a volume of 2056051 shares changing hands.

PBR has been the subject of a number of recent analyst reports. Barclays upgraded PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 target price for the company in a research report on Wednesday, July 11th. Zacks Investment Research upgraded PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, July 25th. Societe Generale upped their target price on PETROLEO BRASIL/ADR from $11.00 to $13.50 and gave the company a “hold” rating in a research report on Wednesday, August 8th. ValuEngine downgraded PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a research report on Monday, August 20th. Finally, Credit Suisse Group set a $15.00 target price on PETROLEO BRASIL/ADR and gave the company a “hold” rating in a research report on Thursday, September 6th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.98.

The stock has a market cap of $78.72 billion, a price-to-earnings ratio of 22.09 and a beta of 2.37. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.18.

PETROLEO BRASIL/ADR (NYSE:PBR) last released its earnings results 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 during the quarter, compared to the consensus estimate of $26.26 billion. PETROLEO BRASIL/ADR had a return on equity of 7.89% and a net margin of 3.60%. As a group, equities analysts expect that PETROLEO BRASIL/ADR will post 1.64 EPS for the current year.

Several institutional investors have recently bought and sold shares of PBR. Canada Pension Plan Investment Board acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth $19,559,000. Delek Group Ltd. acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth $10,653,000. Massachusetts Financial Services Co. MA raised its holdings in shares of PETROLEO BRASIL/ADR by 420.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,108,781 shares of the oil and gas exploration company’s stock worth $11,122,000 after buying an additional 895,915 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of PETROLEO BRASIL/ADR by 88.1% during the 2nd quarter. Earnest Partners LLC now owns 1,841,178 shares of the oil and gas exploration company’s stock worth $18,467,000 after buying an additional 862,392 shares in the last quarter. Finally, Glen Point Capital LLP acquired a new position in shares of PETROLEO BRASIL/ADR during the 2nd quarter worth $6,018,000. 6.61% of the stock is owned by institutional investors.

About PETROLEO BRASIL/ADR (NYSE:PBR)

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.

Featured Article: Return on Investment (ROI)

Receive News & Ratings for PETROLEO BRASIL/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PETROLEO BRASIL/ADR and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply