JP Morgan Upgrades Petroleo Brasileiro SA Petrobras (ADR) to Overweight

Brokerage firm JP Morgan Upgrades its rating on Petroleo Brasileiro SA Petrobras (ADR)(PBR). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at JP Morgan was issued on Feb 13, 2017 in a research report to their Investors and Clients.

Petroleo Brasileiro SA Petrobras (ADR) (PBR) shares turned negative on Wednesdays trading session with the shares closing down -0.28 points or -2.54% at a volume of 1,16,02,691. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.97. The peak price level was also seen at $10.97 while the days lowest was $10.67. Finally the shares closed at $10.76. The 52-week high of the shares is $12.555 while the 52-week low is $3.32. According to the latest information available, the market cap of the company is $70,179 M.

Petroleo Brasileiro SA Petrobras (ADR)(PBR) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $17.99B. Analysts had an estimated revenue of $21.78B. Earnings per share were $-0.02. Analysts had estimated an EPS of $0.01.

Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution and International segments. E&P includes exploration development and production of crude oil natural gas liquid and natural gas in Brazil. RTM covers the refining logistics transport and trading of crude oil and oil products activities export of ethanol extraction and processing of shale and interests in petrochemical companies in Brazil. The Gas and Power segment includes transportation and trading of natural gas produced in Brazil among other activities. Biofuels segment covers the activities of production of biodiesel and its co-products as well as the ethanol-related activities. The Distribution segment includes its retail network and wholesale channels. The International segment includes its activities in the Americas Africa Europe and Asia.

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