Vetr upgraded shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) from a buy rating to a strong-buy rating in a report issued on Wednesday. The brokerage currently has $10.04 price objective on the oil and gas exploration company’s stock.

Analyst Recommendations for Petroleo Brasileiro SA - Petrobras (NYSE:PBR)

PBR has been the subject of several other reports. Zacks Investment Research raised Petroleo Brasileiro SA – Petrobras from a hold rating to a buy rating and set a $9.50 price target for the company in a report on Monday, July 25th. HSBC raised Petroleo Brasileiro SA – Petrobras from a hold rating to a buy rating in a report on Thursday, September 8th. Credit Suisse Group AG raised Petroleo Brasileiro SA – Petrobras from an underperform rating to a neutral rating and lifted their price target for the stock from $2.00 to $8.60 in a report on Friday, August 26th. Citigroup Inc. initiated coverage on Petroleo Brasileiro SA – Petrobras in a report on Tuesday, June 7th. They set a reduce rating for the company. Finally, Tudor Pickering cut Petroleo Brasileiro SA – Petrobras from a buy rating to a hold rating in a report on Tuesday, September 13th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $7.31.

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 9.10 on Wednesday. The stock’s 50 day moving average price is $9.08 and its 200 day moving average price is $7.28. Petroleo Brasileiro SA – Petrobras has a 52 week low of $2.71 and a 52 week high of $10.24. The firm’s market cap is $59.35 billion.

A number of large investors have recently modified their holdings of the company. Eqis Capital Management Inc. raised its stake 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 in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of 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. J.Safra Asset Management Corp purchased a new stake in shares of Petroleo Brasileiro SA – Petrobras during the first quarter worth $157,000. Candriam Luxembourg S.C.A. raised its stake in shares of 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. Finally, Private Advisor Group LLC raised its stake in shares of 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. Institutional investors and hedge funds own 6.11% 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.

5 Day Chart for NYSE:PBR

To view Vetr’s full report, visit Vetr’s official website.

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