NEW YORK (TheStreet) -- Shares of Petroleo Brasileiro Petrobras (PBR) are down 4.65% to $8.41 in midday trading Monday, as oil prices hit a five-year low after analysts at Morgan Stanley cut their 2015 forecast for Brent crude this morning, CNBC reports.
The firm said crude prices could fall to $53 per barrel in 2015. Its base case scenario is for $70, lower than its previous estimate of $98.
Crude has declined by about 40% percent since June as Brent futures continue to fall, down 4.1% to $66.24 today.
Must Read: Warren Buffett's 25 Favorite Stocks
Petrobras is a Brazil-based integrated oil and gas company, operating through its seven segments.
Separately, TheStreet Ratings team rates PETROBRAS-PETROLEO BRASILIER as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PETROBRAS-PETROLEO BRASILIER (PBR) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."