Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) saw unusually large options trading on Wednesday. Stock investors acquired 15,002 put options on the stock. This represents an increase of 458% compared to the average daily volume of 2,688 put options.
Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE PBR) opened at 8.89 on Friday. The stock has a 50 day moving average price of $8.52 and a 200 day moving average price of $9.13. The firm’s market capitalization is $57.98 billion. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $7.61 and a 52 week high of $12.56.
Hedge funds have recently made changes to their positions in the company. EFG Asset Management Americas Corp. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $100,000. Greenleaf Trust purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $101,000. IHT Wealth Management LLC purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $103,000. D.A. Davidson & CO. boosted its position in Petroleo Brasileiro S.A.- Petrobras by 276.6% in the second quarter. D.A. Davidson & CO. now owns 13,402 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 9,843 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $110,000. 6.25% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on PBR shares. Zacks Investment Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Tuesday, July 11th. Credit Suisse Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, May 5th. BidaskClub upgraded Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC restated an “underweight” rating and set a $8.00 price target (down from $11.00) on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.51.
About Petroleo Brasileiro S.A.- Petrobras
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