Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) shot up 3.9% during mid-day trading on Monday . The company traded as high as $9.70 and last traded at $9.58, with a volume of 23,452,500 shares changing hands. The stock had previously closed at $9.22.

A number of brokerages recently issued reports on PBR. Credit Suisse Group AG reissued a “sell” rating on shares of Petroleo Brasileiro SA – Petrobras in a research report on Sunday, May 22nd. Zacks Investment Research raised Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Wednesday, July 13th. Vetr cut 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 report on Wednesday, August 3rd. Bank of America Corp. reaffirmed a “neutral” rating and set a $7.35 price objective (down from $7.50) on shares of Petroleo Brasileiro SA – Petrobras in a research report on Friday, May 13th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Petroleo Brasileiro SA – Petrobras in a research report on Monday, June 13th. Seven equities research 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. Petroleo Brasileiro SA – Petrobras presently has a consensus rating of “Hold” and an average target price of $7.11.

The stock’s market capitalization is $62.48 billion. The firm’s 50-day moving average is $8.73 and its 200-day moving average is $6.76.

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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