Petroleo Brasileiro SA – Petrobras (NYSE:PBR) shares hit a new 52-week high on Monday . The stock traded as high as $9.10 and last traded at $9.03, with a volume of 12,195,641 shares trading hands. The stock had previously closed at $8.73.

Several brokerages have weighed in on PBR. Morgan Stanley reiterated an “overweight” rating and issued a $10.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a report on Friday. Zacks Investment Research cut shares of Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a research note on Thursday. Vetr cut 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 research note on Wednesday, August 3rd. Finally, Barclays PLC cut shares of Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $7.50 to $9.00 in a research note on Wednesday, July 13th. Eight analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.41.

The stock’s market capitalization is $59.22 billion. The firm’s 50-day moving average price is $7.95 and its 200-day moving average price is $6.15.

An institutional investor recently raised its position in Petroleo Brasileiro SA – Petrobras stock. Bridgewater Associates LP increased its position in Petroleo Brasileiro SA – Petrobras (NYSE:PBR) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

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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