Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was upgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday.
Several other brokerages have also commented on PBR. Zacks Investment Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Barclays PLC reissued an “equal weight” rating and issued a $11.00 price objective on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Thursday, November 10th. HSBC Holdings plc downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 17th. Scotiabank reissued a “sector perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Wednesday, November 30th. Finally, Credit Suisse Group set a $11.00 price objective on Petroleo Brasileiro S.A.- Petrobras and gave the company a “hold” rating in a report on Saturday, February 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $9.29.
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) opened at 10.42 on Monday. The stock’s market cap is $67.96 billion. The firm’s 50-day moving average is $10.70 and its 200-day moving average is $10.14. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $3.04 and a 52-week high of $12.56.
A number of large investors have recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI increased its stake in Petroleo Brasileiro S.A.- Petrobras by 16.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,534,950 shares of the oil and gas exploration company’s stock worth $10,990,000 after buying an additional 220,473 shares during the period. OTA Financial Group L.P. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $305,000. Horseman Capital Management Ltd purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $54,416,000. GFS Advisors LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras by 27.8% in the second quarter. GFS Advisors LLC now owns 229,450 shares of the oil and gas exploration company’s stock worth $1,643,000 after buying an additional 49,950 shares in the last quarter. Finally, Ashmore Group plc purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $7,992,000. 6.03% of the stock is owned by institutional investors.
Petroleo Brasileiro S.A.- Petrobras Company Profile
Petroleo Brasileiro SA Petrobras is a Brazil-based integrated oil and gas company. The Company’s activities are divided into five business segments: Exploration and Production (E&P), which focuses on the exploration, development and production of crude oil, natural gas liquid (NGL) and natural gas in Brazil and abroad; Refining, Transportation and Marketing, which mainly covers the refining, logistics, transport and trading of crude oil and oil products, export of ethanol, as well as extraction and processing of shale; Gas and Power, which includes transportation and trading of LNG and natural gas, as well as generation and sale of electricity; Distribution, which sells oil products through own retail network and wholesale channels, and Biofuels, which includes the production of biodiesel and its co-products, as well as ethanol-related activities.
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