Petroleo Brasileiro S.A. - Petrobras (PBR)

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Credit Agricole Begins Coverage on Petroleo Brasileiro Petrobras SA (PBR)
Posted by Stephan Byrd on Sep 17th, 2014

Equities researchers at Credit Agricole began coverage on shares of Petroleo Brasileiro Petrobras SA (NYSE:PBR) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Shares of Petroleo Brasileiro Petrobras SA (NYSE:PBR) traded up 1.91% on Wednesday, hitting $17.845. The stock had a trading volume of 10,398,428 shares. Petroleo Brasileiro Petrobras SA has a 1-year low of $10.20 and a 1-year high of $20.94. The stock’s 50-day moving average is $17.38 and its 200-day moving average is $14.97. The company has a market cap of $116.4 billion and a price-to-earnings ratio of 13.37. Petroleo Brasileiro Petrobras SA also saw a large increase in short interest during the month of August. As of August 29th, there was short interest totalling 29,251,921 shares, an increase of 22.5% from the August 15th total of 23,885,560 shares. Based on an average daily trading volume, of 28,261,385 shares, the short-interest ratio is presently 1.0 days. Approximately 0.0% of the shares of the company are short sold.

Petroleo Brasileiro Petrobras SA (NYSE:PBR) last released its earnings data on Tuesday, August 12th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.12. Analysts expect that Petroleo Brasileiro Petrobras SA will post $1.91 EPS for the current fiscal year.

A number of other firms have also recently commented on PBR. Analysts at Cowen and Company initiated coverage on shares of Petroleo Brasileiro Petrobras SA in a research note on Thursday, September 11th. They set an “outperform” rating and a $23.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Petroleo Brasileiro Petrobras SA in a research note on Thursday, September 4th. They now have a $21.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Petroleo Brasileiro Petrobras SA from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $20.30 price target on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.50.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) is a Brazil-based integrated oil and gas company.

http://tickerreport.com/banking-finance/298710/credit-agricole-begins-coverage-on-petroleo-brasileiro-petrobras-sa-pbr/