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

PBR has been the topic of several research analyst reports. Vetr lowered shares of Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “strong sell” rating and set a $4.25 price objective on the stock. in a research report on Tuesday, March 22nd. Morgan Stanley raised shares of Petroleo Brasileiro SA – Petrobras from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $2.00 to $5.60 in a research report on Tuesday, March 22nd. Credit Suisse Group AG reissued a “sell” rating and issued a $2.00 price objective on shares of Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, March 22nd. Barclays PLC reaffirmed 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. Finally, Deutsche Bank AG lowered shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating in a research report on Thursday, March 24th. Seven 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. Petroleo Brasileiro SA – Petrobras presently has an average rating of “Hold” and a consensus price target of $6.77.

The firm’s 50 day moving average price is $6.76 and its 200-day moving average price is $5.47. The company’s market cap is $52.34 billion.

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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