Petrobras Argentina SA (PZE) Upgraded at Raymond James

Raymond James upgraded shares of Petrobras Argentina SA (NYSE:PZE) from a market perform rating to an outperform rating in a report issued on Monday morning, ARN reports.

Petrobras Argentina SA (NYSE:PZE) remained flat at $5.99 during midday trading on Monday. 142,675 shares of the stock were exchanged. Petrobras Argentina SA has a 12-month low of $4.57 and a 12-month high of $7.90. The firm has a market capitalization of $1.21 billion and a PE ratio of 22.19. The stock has a 50 day moving average price of $5.52 and a 200 day moving average price of $5.82.

An institutional investor recently raised its position in Petrobras Argentina SA stock. Acadian Asset Management increased its position in shares of Petrobras Argentina SA (NYSE:PZE) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The hedge fund owned 1,520,399 shares of the company’s stock after buying an additional 45,380 shares during the period. Acadian Asset Management’s holdings in Petrobras Argentina SA were worth $8,423,000 at the end of the most recent reporting period.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Petrobras Argentina SA from a hold rating to a sell rating in a report on Wednesday, November 18th. TheStreet lowered shares of Petrobras Argentina SA from a buy rating to a hold rating in a report on Tuesday, December 8th. Finally, Credit Suisse began coverage on shares of Petrobras Argentina SA in a report on Tuesday, January 12th. They set an underperform rating and a $2.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $5.50.

Petrobras Argentina SA, (NYSE:PZE), is an Argentina-based integrated company primarily engaged in the energy sector. The Company’s activities are structured in four business segments: Oil and Gas Exploration and Production, including the acquisition, exploration, exploitation and maintenance of oil and gas reserves; Refining and Distribution, focusing in the production of fuels, lubricants and asphalts; Petrochemicals, comprising the production of styrene, polystyrene, bi-oriented polystyrene (BOPS) and synthetic rubber; as well as Gas and Energy, providing gas distribution and electric energy generation and transmission. Through its subsidiaries and affiliates, the Company has operations established in Argentina, Bolivia, Brazil, Ecuador, Venezuela, Mexico, Bermuda, Spain and Austria. YPF SA acquired the Company’s 38.45% participation in the concession contract UTE Puesto Hernandez executed between both companies for the exploration of the Puesto Hernandez area.

This story was originally published by EMQ (http://www.emqtv.com) and is the sole property of EMQ. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.emqtv.com/petrobras-argentina-sa-pze-upgraded-at-raymond-james/172209/

Receive News Ratings for Petrobras Argentina SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petrobras Argentina SA and related companies with MarketBeat.com's FREE daily email newsletter.

Open all references in tabs: [1 - 3]

Leave a Reply