Vetr lowered shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) from a hold rating to a sell rating in a report published on Monday morning. The brokerage currently has $9.84 target price on the oil and gas exploration company’s stock.

Several other equities analysts have also issued reports on the company. Morgan Stanley reaffirmed an overweight rating and issued a $13.00 price target (up previously from $10.00) on shares of Petroleo Brasileiro SA – Petrobras in a research report on Thursday, October 6th. Citigroup Inc. upgraded Petroleo Brasileiro SA – Petrobras from a neutral rating to a buy rating and lifted their price objective for the stock from $7.80 to $12.00 in a report on Wednesday, October 5th. Credit Suisse Group AG reduced their price objective on Petroleo Brasileiro SA – Petrobras from $11.00 to $8.60 and set a neutral rating for the company in a report on Monday, September 26th. Barclays PLC reiterated an underweight rating and issued a $9.00 price objective on shares of Petroleo Brasileiro SA – Petrobras in a report on Thursday, September 22nd. Finally, Raymond James Financial Inc. upgraded Petroleo Brasileiro SA – Petrobras from an underperform rating to a market perform rating and lifted their price objective for the stock from $2.71 to $9.22 in a report on Wednesday, September 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $8.58.

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 10.68 on Monday. Petroleo Brasileiro SA – Petrobras has a one year low of $2.71 and a one year high of $10.97. The stock’s market capitalization is $69.66 billion. The stock has a 50 day moving average of $9.48 and a 200-day moving average of $7.75.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. increased its position in shares of Petroleo Brasileiro SA – Petrobras by 18.6% in the second quarter. Eqis Capital Management Inc. now owns 15,354 shares of the oil and gas exploration company’s stock worth $110,000 after buying an additional 2,410 shares during the period. Wetherby Asset Management Inc. boosted its position in Petroleo Brasileiro SA – Petrobras by 39.4% in the second quarter. Wetherby Asset Management Inc. now owns 15,996 shares of the oil and gas exploration company’s stock worth $115,000 after buying an additional 4,521 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in Petroleo Brasileiro SA – Petrobras by 1.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 27,670 shares of the oil and gas exploration company’s stock worth $198,000 after buying an additional 450 shares in the last quarter. Private Advisor Group LLC boosted its position in Petroleo Brasileiro SA – Petrobras by 1.7% in the second quarter. Private Advisor Group LLC now owns 28,895 shares of the oil and gas exploration company’s stock worth $202,000 after buying an additional 472 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth approximately $208,000. Institutional investors own 5.81% of the company’s stock.

Petroleo Brasileiro SA – Petrobras Company Profile

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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