Petroleo Brasileiro SA – Petrobras (NYSE:PBR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.74 and last traded at $8.65, with a volume of 16,522,614 shares. The stock had previously closed at $8.36.

PBR has been the subject of several research analyst reports. Zacks Investment Research raised Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Monday, July 25th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $2.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research note on Monday, June 13th. Vetr lowered Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating and set a $7.87 price target for the company. in a research note on Monday, July 18th. Citigroup Inc. initiated coverage on Petroleo Brasileiro SA – Petrobras in a research note on Tuesday, June 7th. They set a “reduce” rating for the company. Finally, Morgan Stanley raised Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “overweight” rating and set a $9.50 price target for the company in a research note on Thursday, July 7th. Eight equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.36.

The firm has a 50-day moving average price of $7.77 and a 200-day moving average price of $6.04. The stock’s market cap is $56.42 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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