Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was upgraded by equities researchers at Raymond James Financial Inc. from an “underperform” rating to a “market perform” rating in a note issued to investors on Wednesday, StockTargetPrices.com reports.

PBR has been the subject of a number of other research reports. Zacks Investment Research upgraded 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 upgraded shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Credit Suisse Group AG upgraded shares of Petroleo Brasileiro SA – Petrobras from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $2.00 to $8.60 in a research report on Friday, August 26th. Vetr downgraded shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating and set a $7.87 price objective for the company. in a research report on Monday, July 18th. Finally, Citigroup Inc. started coverage on shares of Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, June 7th. They set a “reduce” rating for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.31.

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 9.22 on Wednesday. The company’s 50-day moving average price is $9.11 and its 200-day moving average price is $7.31. Petroleo Brasileiro SA – Petrobras has a 52-week low of $2.71 and a 52-week high of $10.24. The company’s market capitalization is $60.14 billion.

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A number of hedge funds and other institutional investors have recently made changes to their positions in PBR. Numeric Investors LLC purchased a new position in shares of Petroleo Brasileiro SA – Petrobras during the second quarter valued at approximately $19,363,000. Ashmore Group plc bought a new stake in Petroleo Brasileiro SA – Petrobras during the second quarter worth $7,992,000. GFS Advisors LLC boosted its stake in Petroleo Brasileiro SA – 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 during the last quarter. Camelot Portfolios LLC boosted its stake in Petroleo Brasileiro SA – Petrobras by 3.5% in the second quarter. Camelot Portfolios LLC now owns 83,071 shares of the oil and gas exploration company’s stock worth $595,000 after buying an additional 2,833 shares during the last quarter. Finally, TCW Group Inc. bought a new stake in Petroleo Brasileiro SA – Petrobras during the second quarter worth $1,393,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

About Petroleo Brasileiro SA – Petrobras

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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