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

PBR has been the subject of several recent research reports. Vetr upgraded Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “hold” rating and set a $7.96 price objective for the company in a research note on Thursday, July 28th. Zacks Investment Research cut Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Bank of America Corp. reiterated a “neutral” rating and issued a $7.35 price objective (down previously from $7.50) on shares of Petroleo Brasileiro SA – Petrobras in a research note on Friday, May 13th. Citigroup Inc. initiated coverage on Petroleo Brasileiro SA – Petrobras in a research note on Tuesday, June 7th. They issued a “reduce” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $10.00 price objective on shares of Petroleo Brasileiro SA – Petrobras in a research note on Friday, August 12th. Eight investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $6.41.

The company’s market cap is $59.81 billion. The stock’s 50-day moving average price is $8.10 and its 200-day moving average price is $6.28.

An institutional investor recently raised its position in Petroleo Brasileiro SA – Petrobras stock. Bridgewater Associates LP increased its position in shares of 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 (SEC). The institutional investor 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 SEC filing.

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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