Barclays PLC reaffirmed their underweight rating on shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) in a research note issued to investors on Thursday morning. Barclays PLC currently has a $9.00 price target on the oil and gas exploration company’s stock.

PBR has been the topic of a number of other reports. Raymond James Financial Inc. raised shares of Petroleo Brasileiro SA – Petrobras from an underperform rating to a market perform rating and boosted their target price for the stock from $2.71 to $9.22 in a research report on Wednesday. HSBC raised shares of Petroleo Brasileiro SA – Petrobras from a hold rating to a buy rating in a research report on Thursday, September 8th. Vetr raised shares of Petroleo Brasileiro SA – Petrobras from a buy rating to a strong-buy rating and set a $10.04 target price on the stock in a research report on Wednesday, September 14th. Tudor Pickering cut shares of Petroleo Brasileiro SA – Petrobras from a buy rating to a hold rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG raised shares of Petroleo Brasileiro SA – Petrobras from an underperform rating to a neutral rating and boosted their target price for the stock from $2.00 to $8.60 in a research report on Friday, August 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Petroleo Brasileiro SA – Petrobras presently has a consensus rating of Hold and an average price target of $7.48.

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 9.56 on Thursday. The stock has a 50 day moving average of $9.19 and a 200 day moving average of $7.34. The firm’s market cap is $62.35 billion. Petroleo Brasileiro SA – Petrobras has a 1-year low of $2.71 and a 1-year high of $10.24.

Several institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new position in shares of Petroleo Brasileiro SA – Petrobras during the second quarter valued at about $57,271,000. Horseman Capital Management Ltd purchased a new position in shares of Petroleo Brasileiro SA – Petrobras during the second quarter valued at about $54,416,000. Axiom International Investors LLC DE increased its position in shares of Petroleo Brasileiro SA – Petrobras by 152.6% in the second quarter. Axiom International Investors LLC DE now owns 7,025,000 shares of the oil and gas exploration company’s stock valued at $50,299,000 after buying an additional 4,243,900 shares during the period. USS Investment Management Ltd increased its position in shares of Petroleo Brasileiro SA – Petrobras by 100.0% in the first quarter. USS Investment Management Ltd now owns 3,786,618 shares of the oil and gas exploration company’s stock valued at $11,133,000 after buying an additional 1,893,309 shares during the period. Finally, Numeric Investors LLC purchased a new position in shares of Petroleo Brasileiro SA – Petrobras during the second quarter valued at about $19,363,000. 5.81% of the stock is owned by institutional investors.

About Petroleo Brasileiro SA – Petrobras

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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