The Goldman Sachs Group Forecasts Strong Price Appreciation for Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) had its target price raised by analysts at The Goldman Sachs Group from $15.40 to $17.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 23.10% from the stock’s previous close.

PBR has been the topic of several other reports. Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research report on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their target price for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. UBS Group reduced their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has an average rating of “Moderate Buy” and a consensus price target of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.7 %

Shares of PBR opened at $13.81 on Tuesday. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $14.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBR. Encompass Capital Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth about $73,174,000. Mondrian Investment Partners LTD raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after buying an additional 1,889,313 shares during the period. Fisher Asset Management LLC lifted its position in Petróleo Brasileiro S.A. – Petrobras by 13.1% during the third quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock valued at $227,961,000 after buying an additional 1,835,297 shares in the last quarter. Victory Capital Management Inc. grew its stake in Petróleo Brasileiro S.A. – Petrobras by 38.4% during the second quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock worth $54,278,000 after buying an additional 1,039,700 shares during the period. Finally, Annex Advisory Services LLC increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 152.7% in the second quarter. Annex Advisory Services LLC now owns 890,417 shares of the oil and gas exploration company’s stock worth $12,902,000 after acquiring an additional 538,002 shares in the last quarter.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.