PETROLEO BRASIL/ADR (NYSE:PBR) shares gapped down before the market opened on Thursday . The stock had previously closed at $14.65, but opened at $15.10. PETROLEO BRASIL/ADR shares last traded at $15.08, with a volume of 2374161 shares trading hands.

Several research analysts have issued reports on the stock. Societe Generale lifted their target price on shares of PETROLEO BRASIL/ADR from $11.00 to $13.50 and gave the stock a “hold” rating in a report on Wednesday, August 8th. Barclays raised shares of PETROLEO BRASIL/ADR from an “underweight” rating to an “overweight” rating and set a $14.00 target price for the company in a report on Wednesday, July 11th. Credit Suisse Group set a $15.00 target price on shares of PETROLEO BRASIL/ADR and gave the stock a “hold” rating in a report on Thursday, September 6th. ValuEngine raised shares of PETROLEO BRASIL/ADR from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Zacks Investment Research cut shares of PETROLEO BRASIL/ADR from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.98.

The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $78.72 billion, a PE ratio of 21.74 and a beta of 2.37.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its earnings results on Friday, August 3rd. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.13. The business had revenue of $23.41 billion during the quarter, compared to analysts’ expectations of $26.26 billion. PETROLEO BRASIL/ADR had a net margin of 3.60% and a return on equity of 7.89%. Analysts predict that PETROLEO BRASIL/ADR will post 1.64 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in PETROLEO BRASIL/ADR in the second quarter worth about $19,559,000. Earnest Partners LLC raised its holdings in shares of PETROLEO BRASIL/ADR by 88.1% during the second quarter. Earnest Partners LLC now owns 1,841,178 shares of the oil and gas exploration company’s stock valued at $18,467,000 after purchasing an additional 862,392 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of PETROLEO BRASIL/ADR by 15.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,411,967 shares of the oil and gas exploration company’s stock valued at $14,162,000 after purchasing an additional 185,359 shares during the last quarter. IPG Investment Advisors LLC raised its holdings in shares of PETROLEO BRASIL/ADR by 22.4% during the second quarter. IPG Investment Advisors LLC now owns 1,197,875 shares of the oil and gas exploration company’s stock valued at $12,015,000 after purchasing an additional 219,350 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of PETROLEO BRASIL/ADR by 420.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,108,781 shares of the oil and gas exploration company’s stock valued at $11,122,000 after purchasing an additional 895,915 shares during the last quarter. 6.61% of the stock is owned by institutional investors and hedge funds.

About PETROLEO BRASIL/ADR (NYSE:PBR)

PetrĂ³leo 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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