Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) traded down 3.6% on Wednesday . The stock traded as low as $8.37 and last traded at $8.39, with a volume of 13,354,830 shares. The stock had previously closed at $8.70.

Several analysts have recently weighed in on the stock. Vetr lowered shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating and set a $8.00 price objective for the company. in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Monday, July 25th. Barclays PLC lowered shares of Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $7.50 to $9.00 in a report on Wednesday, July 13th. Finally, Morgan Stanley raised shares of 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 report on Thursday, July 7th. Eight research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Petroleo Brasileiro SA – Petrobras has an average rating of “Hold” and a consensus price target of $6.36.

The firm has a 50-day moving average price of $7.86 and a 200 day moving average price of $6.09. The stock’s market cap is $54.98 billion.

An institutional investor recently raised its position in Petroleo Brasileiro SA – Petrobras stock. Bridgewater Associates LP boosted its position in Petroleo Brasileiro SA – Petrobras (NYSE:PBR) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,855,200 shares of the oil and gas exploration company’s stock after buying an additional 108,500 shares during the period. Bridgewater Associates LP’s holdings in Petroleo Brasileiro SA – Petrobras were worth $7,977,000 as of its most recent filing with the SEC.

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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