Petroleo Brasileiro S.A.- Petrobras’ (NYSE:PBR) “Underweight” Rating Reiterated at Barclays PLC

Barclays PLC reiterated their underweight rating on shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) in a report released on Wednesday, July 12th. Barclays PLC currently has a $8.00 target price on the oil and gas exploration company’s stock, down from their previous target price of $11.00.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a hold rating to a buy rating and set a $8.75 target price for the company in a research report on Tuesday, July 11th. Credit Suisse Group reissued a buy rating and issued a $11.00 price target on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Tuesday, April 18th. Societe Generale raised shares of Petroleo Brasileiro S.A.- Petrobras from a hold rating to a buy rating in a report on Friday, March 24th. Finally, BidaskClub raised shares of Petroleo Brasileiro S.A.- Petrobras from a sell rating to a hold rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Petroleo Brasileiro S.A.- Petrobras presently has a consensus rating of Hold and a consensus price target of $10.51.

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE PBR) traded down 1.62% during mid-day trading on Wednesday, hitting $8.48. 13,897,536 shares of the company traded hands. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $7.61 and a 52-week high of $12.56. The firm has a 50-day moving average price of $8.41 and a 200 day moving average price of $9.21. The firm’s market cap is $55.31 billion.

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Several hedge funds have recently bought and sold shares of PBR. EFG Asset Management Americas Corp. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $100,000. Greenleaf Trust bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $101,000. D.A. Davidson & CO. raised its stake in Petroleo Brasileiro S.A.- Petrobras by 276.6% in the second quarter. D.A. Davidson & CO. now owns 13,402 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 9,843 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $110,000. Finally, Jacobi Capital Management LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 585.5% in the first quarter. Jacobi Capital Management LLC now owns 11,585 shares of the oil and gas exploration company’s stock worth $113,000 after buying an additional 9,895 shares during the period. 6.25% of the stock is owned by institutional investors and hedge funds.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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