Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) released its quarterly earnings results on Tuesday. The oil and gas exploration company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.06, Zacks reports. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 30.61% and a net margin of 24.52%.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE PBR traded down $0.07 during midday trading on Tuesday, hitting $18.27. The company had a trading volume of 23,466,235 shares, compared to its average volume of 23,305,314. The company has a market capitalization of $117.77 billion, a PE ratio of 4.61, a P/E/G ratio of 0.39 and a beta of 0.33. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $22.13 and a 200-day moving average price of $19.25. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.43 and a twelve month high of $26.39.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PBR shares. Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Finally, UBS Group boosted their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.97.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petróleo Brasileiro S.A., known as Petrobras, is an integrated energy company headquartered in Rio de Janeiro, Brazil. Founded in 1953, it is controlled by the Brazilian government and has publicly traded shares, including American depositary shares listed in the United States. Petrobras’s core business is exploring for and producing oil and natural gas, with a significant focus on offshore and deepwater fields, including Brazil’s pre-salt basins. The company also operates in refining, transportation, and the sale of oil, fuels, natural gas, and related energy products.