Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) hit a new 52-week high during trading on Friday . The stock traded as high as $8.67 and last traded at $8.65, with a volume of 18,216,670 shares changing hands. The stock had previously closed at $8.06.

PBR has been the topic of several research reports. Vetr upgraded Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “hold” rating and set a $7.96 target price on the stock in a research report on Thursday. Zacks Investment Research downgraded Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Bank of America Corp. reiterated a “neutral” rating and set a $7.35 price objective (down previously from $7.50) on shares of Petroleo Brasileiro SA – Petrobras in a research report on Friday, May 13th. Citigroup Inc. started coverage on Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, June 7th. They set a “reduce” rating on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Petroleo Brasileiro SA – Petrobras in a research report on Monday, June 13th. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.84.

The company’s 50 day moving average is $7.37 and its 200-day moving average is $5.76. The company’s market capitalization is $56.61 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.