Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Gap Down to $11.40

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.40, but opened at $10.43. Petróleo Brasileiro S.A. – Petrobras shares last traded at $9.73, with a volume of 900,503 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Itau BBA Securities downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research report on Tuesday, August 30th. The Goldman Sachs Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and reduced their price target for the company from $13.60 to $12.30 in a research report on Friday, November 4th. UBS Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $14.00 in a research report on Monday, October 31st. Finally, Credit Suisse Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $16.00 in a research report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Hold” and a consensus target price of $14.26.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $13.09 and its two-hundred day moving average price is $13.26. The firm has a market capitalization of $66.13 billion, a PE ratio of 1.95, a PEG ratio of 1.08 and a beta of 1.43.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $168,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $15,705,000. Baird Financial Group Inc. purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $188,000. Thrivent Financial for Lutherans increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 9.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 346,173 shares of the oil and gas exploration company’s stock worth $4,272,000 after purchasing an additional 31,041 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 139.2% during the 3rd quarter. Two Sigma Advisers LP now owns 10,808,100 shares of the oil and gas exploration company’s stock worth $133,372,000 after purchasing an additional 6,289,700 shares in the last quarter. 11.74% of the stock is owned by hedge funds and other institutional investors.

About Petróleo Brasileiro S.A. – Petrobras

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Petróleo Brasileiro SA – Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. It 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.

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