Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)‘s stock had its “underweight” rating reaffirmed by equities research analysts at Barclays PLC in a report issued on Wednesday. They presently have a $8.00 price target on the oil and gas exploration company’s stock. Barclays PLC’s target price points to a potential downside of 23.95% from the company’s current price.

Several other brokerages have also commented on PBR. BidaskClub cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. ValuEngine upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research lowered Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group set a $12.00 target price on Petroleo Brasileiro S.A.- Petrobras and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Hold” and a consensus target price of $10.69.

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) traded down 0.57% during trading on Wednesday, hitting $10.46. The stock had a trading volume of 8,921,034 shares. The stock’s market capitalization is $68.22 billion. The firm has a 50 day moving average price of $9.62 and a 200-day moving average price of $9.03. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $7.61 and a 52 week high of $12.56.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the second quarter valued at $44,588,000. Acadian Asset Management LLC raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 955.6% in the 2nd quarter. Acadian Asset Management LLC now owns 4,066,630 shares of the oil and gas exploration company’s stock worth $32,491,000 after purchasing an additional 3,681,383 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth about $15,022,000. Balyasny Asset Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 2nd quarter worth about $11,825,000. Finally, Glen Point Capital LLP raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 92.5% in the 2nd quarter. Glen Point Capital LLP now owns 1,895,300 shares of the oil and gas exploration company’s stock worth $15,143,000 after purchasing an additional 910,833 shares during the last quarter. 5.70% of the stock is currently owned by hedge funds and other institutional investors.

About Petroleo Brasileiro S.A.- Petrobras

Analyst Recommendations for Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

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