Petroleo Brasileiro SA Petrobras (NYSE:PBR) was upgraded by investment analysts at Societe Generale from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
A number of other research firms also recently weighed in on PBR. Credit Suisse Group AG reaffirmed a “hold” rating and set a $11.00 price target on shares of Petroleo Brasileiro SA Petrobras in a research report on Monday, March 6th. JPMorgan Chase & Co. raised Petroleo Brasileiro SA Petrobras from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.42 to $10.63 in a research report on Monday, February 13th. Barclays PLC reaffirmed an “underweight” rating and set a $11.00 price target on shares of Petroleo Brasileiro SA Petrobras in a research report on Wednesday, February 1st. Zacks Investment Research raised Petroleo Brasileiro SA Petrobras from a “sell” rating to a “hold” rating in a research report on Tuesday, March 21st. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Petroleo Brasileiro SA Petrobras in a research report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.46.
Shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) opened at 9.16 on Friday. The firm’s market cap is $59.74 billion. Petroleo Brasileiro SA Petrobras has a 52 week low of $5.19 and a 52 week high of $12.56. The stock has a 50 day moving average of $9.93 and a 200 day moving average of $10.36.
ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Mideast Time and is the sole property of of Mideast Time. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.mideasttime.com/societe-generale-upgrades-petroleo-brasileiro-sa-petrobras-pbr-to-buy/1589949.html.
Several large investors have recently made changes to their positions in PBR. Baillie Gifford & Co. bought a new stake in shares of Petroleo Brasileiro SA Petrobras during the fourth quarter worth about $125,308,000. Horseman Capital Management Ltd boosted its stake in shares of Petroleo Brasileiro SA Petrobras by 28.6% in the third quarter. Horseman Capital Management Ltd now owns 9,775,300 shares of the oil and gas exploration company’s stock worth $91,204,000 after buying an additional 2,175,300 shares in the last quarter. Indus Capital Partners LLC bought a new stake in shares of Petroleo Brasileiro SA Petrobras during the fourth quarter worth about $14,954,000. Janus Capital Management LLC boosted its stake in shares of Petroleo Brasileiro SA Petrobras by 15.0% in the fourth quarter. Janus Capital Management LLC now owns 5,698,093 shares of the oil and gas exploration company’s stock worth $57,608,000 after buying an additional 741,182 shares in the last quarter. Finally, Capital Growth Management LP bought a new stake in shares of Petroleo Brasileiro SA Petrobras during the third quarter worth about $5,598,000. Institutional investors own 6.03% of the company’s stock.
About Petroleo Brasileiro SA Petrobras
Petroleo Brasileiro SA Petrobras is a Brazil-based integrated oil and gas company. The Company’s activities are divided into five business segments: Exploration and Production (E&P), which focuses on the exploration, development and production of crude oil, natural gas liquid (NGL) and natural gas in Brazil and abroad; Refining, Transportation and Marketing, which mainly covers the refining, logistics, transport and trading of crude oil and oil products, export of ethanol, as well as extraction and processing of shale; Gas and Power, which includes transportation and trading of LNG and natural gas, as well as generation and sale of electricity; Distribution, which sells oil products through own retail network and wholesale channels, and Biofuels, which includes the production of biodiesel and its co-products, as well as ethanol-related activities.
Receive News & Ratings for Petroleo Brasileiro SA Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petroleo Brasileiro SA Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.