Petroleo Brasileiro SA – Petrobras (NYSE:PBR) shares dropped 4% during mid-day trading on Wednesday . The stock traded as low as $7.63 and last traded at $7.76, with a volume of 20,490,061 shares traded. The stock had previously closed at $8.08.

PBR has been the topic of several research reports. Vetr upgraded shares of Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “hold” rating and set a $5.12 price target on the stock in a research report on Tuesday, March 15th. Zacks Investment Research downgraded shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating in a research report on Tuesday, March 15th. Morgan Stanley upgraded shares of Petroleo Brasileiro SA – Petrobras from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $2.00 to $5.60 in a research report on Tuesday, March 22nd. Credit Suisse Group AG reiterated a “sell” rating and set a $2.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, March 22nd. Finally, Barclays PLC reiterated an “equal weight” rating and set a $6.50 price target on shares of Petroleo Brasileiro SA – Petrobras in a research report on Wednesday, March 23rd. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Petroleo Brasileiro SA – Petrobras has an average rating of “Hold” and a consensus target price of $6.77.

The firm’s market capitalization is $51.66 billion. The stock has a 50 day moving average price of $6.67 and a 200-day moving average price of $5.43.

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.

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