Petroleo Brasileiro SA – Petrobras (PBR) Rating Increased to Hold at Vetr Inc.

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating in a report released on Thursday. The firm currently has a $7.96 price objective on the oil and gas exploration company’s stock. Vetr‘s price target indicates a potential downside of 1.24% from the company’s previous close.

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) traded down 3.24% during midday trading on Thursday, hitting $8.06. 17,755,007 shares of the stock were exchanged. Petroleo Brasileiro SA – Petrobras has a 12 month low of $2.71 and a 12 month high of $8.57. The stock has a 50 day moving average price of $7.37 and a 200-day moving average price of $5.76. The company’s market cap is $52.57 billion.

PBR has been the subject of several other research reports. Zacks Investment Research raised shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Monday. Credit Suisse Group AG reissued an “underperform” rating and issued a $2.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research report on Thursday, March 31st. Citigroup Inc. initiated coverage on shares of Petroleo Brasileiro SA – Petrobras in a research report on Tuesday, June 7th. They issued a “reduce” rating for the company. Morgan Stanley raised shares of Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “overweight” rating and set a $9.50 price target for the company in a research report on Thursday, July 7th. Finally, JPMorgan Chase & Co. raised shares of Petroleo Brasileiro SA – Petrobras from an “underweight” rating to a “neutral” rating and raised their price target for the company from $5.80 to $7.40 in a research report on Tuesday, May 24th. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.84.

Other hedge funds and institutional investors have bought and sold shares of the company. Eqis Capital Management Inc. raised its position in 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. J.Safra Asset Management Corp acquired a new position in Petroleo Brasileiro SA – Petrobras during the first quarter worth approximately $157,000. Candriam Luxembourg S.C.A. raised its position in 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. Quantum Capital Management acquired a new position in Petroleo Brasileiro SA – Petrobras during the first quarter worth approximately $224,000. Finally, Dorsey Wright & Associates acquired a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth approximately $365,000.

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.