Petroleo Brasileiro SA – Petrobras (NYSE:PBR) dropped 4.2% on Monday . The stock traded as low as $9.03 and last traded at $9.03, with a volume of 13,476,102 shares. The stock had previously closed at $9.43.

PBR has been the subject of several recent research reports. Credit Suisse Group AG reissued a “sell” rating on shares of Petroleo Brasileiro SA – Petrobras in a report on Monday, May 2nd. Bank of America Corp. reissued a “neutral” rating and issued a $7.35 price objective (down previously from $7.50) on shares of Petroleo Brasileiro SA – Petrobras in a report on Friday, May 13th. Barclays PLC reissued an “equal weight” rating on shares of Petroleo Brasileiro SA – Petrobras in a report on Tuesday, May 17th. Raymond James Financial Inc. lowered Petroleo Brasileiro SA – Petrobras from a “market perform” rating to an “underperform” rating in a report on Thursday, May 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised Petroleo Brasileiro SA – Petrobras from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $5.80 to $7.40 in a report on Tuesday, May 24th. Eight investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.41.

The firm’s market capitalization is $60.40 billion. The stock’s 50 day moving average price is $8.37 and its 200 day moving average price is $6.50.

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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