Petroleo Brasileiro SA – Petrobras (NYSE:PBR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.56 and last traded at $9.40, with a volume of 11,555,841 shares trading hands. The stock had previously closed at $9.37.

PBR has been the subject of several recent research reports. Vetr upgraded shares of Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “hold” rating and set a $7.96 price target for the company in a research report on Thursday, July 28th. Zacks Investment Research cut shares of Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Bank of America Corp. restated a “neutral” rating and issued a $7.35 price target (down from $7.50) on shares of Petroleo Brasileiro SA – Petrobras in a research report on Friday, May 13th. Citigroup Inc. initiated coverage on shares of Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, June 7th. They issued a “reduce” rating for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $10.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research report on Friday, August 12th. Seven investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.01.

The company’s market capitalization is $61.21 billion. The company has a 50 day moving average price of $8.60 and a 200-day moving average price of $6.68.

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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