Petroleo Brasileiro SA – Petrobras (NYSE:PBR) fell 6.1% during trading on Monday . The company traded as low as $8.13 and last traded at $8.15, with a volume of 13,805,704 shares traded. The stock had previously closed at $8.68.

A number of brokerages have recently issued reports on PBR. JPMorgan Chase & Co. raised shares of Petroleo Brasileiro SA – Petrobras from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $5.80 to $7.40 in a research report on Tuesday, May 24th. Barclays PLC reissued an “equal weight” rating on shares of Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, May 17th. Vetr downgraded shares of Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating and set a $7.64 price objective for the company. in a research report on Monday, July 4th. Credit Suisse Group AG reissued a “sell” rating on shares of Petroleo Brasileiro SA – Petrobras in a research report on Saturday, May 14th. Finally, Raymond James Financial Inc. downgraded shares of Petroleo Brasileiro SA – Petrobras from a “market perform” rating to an “underperform” rating in a research report on Thursday, May 19th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.84.

The company’s market cap is $52.70 billion. The company has a 50 day moving average of $7.47 and a 200 day moving average of $5.87.

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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