Trading Report: The Barclays PLC Reaffirms “Underweight” Rating for Petroleo Brasileiro SA – Petrobras (PBR)

The Barclays PLC Reaffirms “Underweight” Rating for Petroleo Brasileiro SA – Petrobras (PBR)

Barclays PLC restated their underweight rating on shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) in a report released on Monday. Barclays PLC currently has a $10.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $9.00.

A number of other equities analysts have also recently issued reports on PBR. Zacks Investment Research upgraded shares of Petroleo Brasileiro SA – Petrobras from a hold rating to a buy rating and set a $9.00 target price for the company in a research report on Wednesday, July 13th. Macquarie upgraded shares of Petroleo Brasileiro SA – Petrobras from an underperform rating to a neutral rating in a research report on Thursday, September 15th. Vetr cut shares of Petroleo Brasileiro SA – Petrobras from a hold rating to a sell rating and set a $8.00 target price for the company. in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a sell rating and set a $2.00 target price on shares of Petroleo Brasileiro SA – Petrobras in a research report on Monday, June 13th. Finally, Morgan Stanley restated an equal weight rating on shares of Petroleo Brasileiro SA – Petrobras in a research report on Monday, June 13th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $8.58.

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 10.66 on Monday. Petroleo Brasileiro SA – Petrobras has a 52-week low of $2.71 and a 52-week high of $10.97. The stock’s market cap is $69.53 billion. The company’s 50 day moving average is $9.56 and its 200-day moving average is $7.79.

Institutional investors have recently modified their holdings of 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 in the last quarter. Wetherby Asset Management Inc. increased its position 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. Creative Planning increased its position in shares of Petroleo Brasileiro SA – Petrobras by 1.8% in the third quarter. Creative Planning now owns 18,717 shares of the oil and gas exploration company’s stock worth $175,000 after buying an additional 335 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position 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 increased its position 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. 5.81% of the stock is currently owned by institutional investors and hedge funds.

Petroleo Brasileiro SA – Petrobras Company Profile

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