Petroleo Brasileiro SA Petrobras (NYSE:PBR) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

PBR has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded Petroleo Brasileiro SA Petrobras from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.42 to $10.63 in a research note on Monday, February 13th. Credit Suisse Group AG restated a “hold” rating and set a $11.00 price target on shares of Petroleo Brasileiro SA Petrobras in a research note on Monday, March 6th. Zacks Investment Research downgraded Petroleo Brasileiro SA Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 21st. Barclays PLC restated an “underweight” rating and set a $11.00 price target on shares of Petroleo Brasileiro SA Petrobras in a research note on Wednesday, February 1st. Finally, HSBC Holdings plc upgraded Petroleo Brasileiro SA Petrobras from a “hold” rating to a “buy” rating in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Petroleo Brasileiro SA Petrobras currently has an average rating of “Buy” and a consensus target price of $10.97.

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

Shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) traded up 0.67% during trading on Friday, reaching $8.95. 22,845,309 shares of the company’s stock were exchanged. The firm’s market cap is $58.37 billion. Petroleo Brasileiro SA Petrobras has a 12 month low of $5.45 and a 12 month high of $12.56. The stock has a 50-day moving average price of $9.32 and a 200 day moving average price of $10.03.

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Several hedge funds and other institutional investors have recently made changes to their positions in PBR. Baillie Gifford & Co. bought a new position in shares of Petroleo Brasileiro SA Petrobras during the fourth quarter worth about $125,308,000. Emerald Acquisition Ltd. bought a new position in shares of Petroleo Brasileiro SA Petrobras during the second quarter worth about $57,271,000. Horseman Capital Management Ltd bought a new position in shares of Petroleo Brasileiro SA Petrobras during the second quarter worth about $54,416,000. Numeric Investors LLC bought a new position in shares of Petroleo Brasileiro SA Petrobras during the second quarter worth about $19,363,000. Finally, USS Investment Management Ltd increased its position in shares of Petroleo Brasileiro SA Petrobras by 100.0% in the first quarter. USS Investment Management Ltd now owns 3,786,618 shares of the oil and gas exploration company’s stock worth $11,133,000 after buying an additional 1,893,309 shares during the period. Institutional investors own 6.03% of the company’s stock.

About Petroleo Brasileiro SA Petrobras

12 Month Chart for NYSE:PBR

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

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