Petroleo Brasileiro SA – Petrobras (PBR) Trading Up 2.2%
Petroleo Brasileiro SA – Petrobras (NYSE:PBR)’s share price was up 2.2% on Tuesday . The stock traded as high as $9.28 and last traded at $9.28, with a volume of 14,902,006 shares trading hands. The stock had previously closed at $9.08.
Several equities analysts have recently weighed in on PBR shares. 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 set a $7.35 price target (down 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. cut 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. upgraded Petroleo Brasileiro SA – Petrobras from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $5.80 to $7.40 in a research note on Tuesday, May 24th. 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 company’s stock. Petroleo Brasileiro SA – Petrobras presently has an average rating of “Hold” and a consensus target price of $6.41.
The company’s market capitalization is $59.81 billion. The company’s 50-day moving average is $8.02 and its 200-day moving average is $6.24.
A hedge fund recently raised its stake in Petroleo Brasileiro SA – Petrobras stock. Bridgewater Associates LP raised its stake in shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.
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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