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.

A number of research firms have issued reports on PBR. ValuEngine raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank AG raised Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub raised Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Tuesday, August 15th. Finally, Credit Suisse Group set a $12.00 price objective on Petroleo Brasileiro S.A.- Petrobras and gave the stock a “buy” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.51.

The firm’s market capitalization is $65.29 billion. The stock’s 50-day moving average price is $8.86 and its 200-day moving average price is $9.00. Petroleo Brasileiro S.A.- Petrobras also was the target of unusually large options trading on Monday. Stock traders bought 6,769 put options on the stock. This represents an increase of 103% compared to the average daily volume of 3,340 put options.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PBR. Janus Henderson Group PLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $44,588,000. Acadian Asset Management LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 955.6% during the second quarter. Acadian Asset Management LLC now owns 4,066,630 shares of the oil and gas exploration company’s stock worth $32,491,000 after buying an additional 3,681,383 shares during the period. Baillie Gifford & Co. boosted its position in shares of 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 buying an additional 3,674,430 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $15,022,000. Finally, BP PLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $14,644,000. Institutional investors and hedge funds own 5.71% of the company’s stock.

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About Petroleo Brasileiro S.A.- Petrobras

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