Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) gapped up prior to trading on Tuesday . The stock had previously closed at $8.95, but opened at $9.29. Petroleo Brasileiro S.A.- Petrobras shares last traded at $9.54, with a volume of 24,629,164 shares traded.

PBR has been the subject of a number of research reports. Credit Suisse Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Monday, May 15th. ValuEngine upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. BidaskClub lowered Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Tuesday, July 11th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $8.00 price objective (down from $11.00) on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.51.

The company’s market capitalization is $62.22 billion. The stock has a 50-day moving average of $8.79 and a 200-day moving average of $9.00. Petroleo Brasileiro S.A.- Petrobras also saw some unusual options trading on Monday. Stock investors acquired 6,769 put options on the stock. This is an increase of approximately 103% compared to the average daily volume of 3,340 put options.

Several hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 29.6% during the first quarter. Baillie Gifford & Co. now owns 16,068,940 shares of the oil and gas exploration company’s stock worth $155,708,000 after purchasing an additional 3,674,430 shares during the period. Axiom International Investors LLC DE grew its stake in Petroleo Brasileiro S.A.- Petrobras by 1.9% during the first quarter. Axiom International Investors LLC DE now owns 7,308,455 shares of the oil and gas exploration company’s stock worth $70,819,000 after purchasing an additional 134,165 shares during the period. Janus Capital Management LLC grew its stake in Petroleo Brasileiro S.A.- Petrobras by 2.3% during the first quarter. Janus Capital Management LLC now owns 5,828,059 shares of the oil and gas exploration company’s stock worth $56,474,000 after purchasing an additional 129,966 shares during the period. Janus Henderson Group PLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth approximately $44,588,000. Finally, Capital International Investors grew its stake in Petroleo Brasileiro S.A.- Petrobras by 0.4% during the second quarter. Capital International Investors now owns 4,208,705 shares of the oil and gas exploration company’s stock worth $33,628,000 after purchasing an additional 15,258 shares during the period. 5.71% of the stock is owned by institutional investors.

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About Petroleo Brasileiro S.A.- Petrobras

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