Petroleo Brasileiro SA – Petrobras (NYSE:PBR)’s share price traded down 6.1% during mid-day 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.

PBR has been the subject of several recent analyst reports. Zacks Investment Research raised Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Monday, July 25th. Vetr cut 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 11th. Morgan Stanley raised Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “overweight” rating and set a $9.50 price objective for the company in a research report on Thursday, July 7th. Citigroup Inc. started coverage on Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, June 7th. They set a “reduce” rating for the company. Finally, Barclays PLC cut Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $7.50 to $9.00 in a research report on Wednesday, July 13th. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $6.84.

The firm’s market cap is $51.75 billion. The company has a 50-day moving average of $7.52 and a 200 day moving average of $5.90.

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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