Trade Report: Today, Petroleo Brasileiro SA – Petrobras (PBR) Raised to “Buy” at Vetr Inc.

Today, Petroleo Brasileiro SA – Petrobras (PBR) Raised to “Buy” at Vetr Inc.

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $10.44 price target on the oil and gas exploration company’s stock. Vetr‘s price objective suggests a potential upside of 2.35% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Monday, July 25th. Morgan Stanley reiterated an “overweight” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Petroleo Brasileiro SA – Petrobras in a research note 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 company from $7.80 to $12.00 in a research note on Wednesday, October 5th. HSBC upgraded Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $9.00 price objective on shares of Petroleo Brasileiro SA – Petrobras in a research note on Thursday, September 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.05.

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) traded down 2.49% during midday trading on Monday, reaching $10.20. The company had a trading volume of 11,309,911 shares. Petroleo Brasileiro SA – Petrobras has a 52-week low of $2.71 and a 52-week high of $12.56. The company’s 50 day moving average price is $10.94 and its 200 day moving average price is $8.75. The stock’s market capitalization is $66.53 billion.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cadence Capital Management LLC bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth about $488,000. Emerald Acquisition Ltd. bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth about $57,271,000. AGF Investments Inc. raised its position in Petroleo Brasileiro SA – Petrobras by 12.0% in the second quarter. AGF Investments Inc. now owns 78,470 shares of the oil and gas exploration company’s stock worth $562,000 after buying an additional 8,429 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Petroleo Brasileiro SA – 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 last quarter. Finally, Guild Investment Management Inc. bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth about $640,000. 6.03% of the stock is currently owned by institutional investors.

About Petroleo Brasileiro SA – Petrobras

Petroleo Brasileiro SA-Petrobras is an energy company. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks, as well as oil products, natural gas and other liquid hydrocarbons.

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