Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) rose 3.8% during mid-day trading on Thursday . The company traded as high as $8.24 and last traded at $8.22, with a volume of 13,950,833 shares changing hands. The stock had previously closed at $7.92.

PBR has been the subject of a number of research analyst reports. Barclays PLC restated an “equal weight” rating and issued a $6.50 target price on shares of Petroleo Brasileiro SA – Petrobras in a report on Wednesday, March 23rd. Simmons reduced their target price on Petroleo Brasileiro SA – Petrobras to $2.00 in a report on Friday, March 25th. Bank of America Corp. restated a “neutral” rating and issued a $7.35 target price (down previously from $7.50) on shares of Petroleo Brasileiro SA – Petrobras in a report on Friday, May 13th. Citigroup Inc. initiated coverage on Petroleo Brasileiro SA – Petrobras in a report on Tuesday, June 7th. They issued a “reduce” rating for the company. Finally, Vetr lowered Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating and set a $7.64 target price for the company. in a report on Monday. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $6.77.

The firm’s market cap is $53.55 billion. The stock’s 50 day moving average is $6.70 and its 200 day moving average is $5.45.

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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