Citigroup Inc. lowered shares of Petroleo Brasileiro SA (NYSE:PBR) from a buy rating to a neutral rating in a report released on Monday, TheFlyOnTheWall.com reports. Citigroup Inc. currently has $14.00 price objective on the stock, down from their previous price objective of $25.00.
Petroleo Brasileiro SA (NYSE:PBR) traded down 1.56% during mid-day trading on Monday, hitting $13.978. The stock had a trading volume of 19,314,428 shares. Petroleo Brasileiro SA has a 1-year low of $12.03 and a 1-year high of $20.63. The stock has a 50-day moving average of $16.51 and a 200-day moving average of $15.37. The company has a market cap of $91.168 billion and a P/E ratio of 7.53. Petroleo Brasileiro SA also saw some unusual options trading on Monday. Investors acquired 23,558 put options on the stock. This represents an increase of 125% compared to the typical volume of 10,465 put options.
PBR has been the subject of a number of other recent research reports. Analysts at Credit Suisse downgraded shares of Petroleo Brasileiro SA from an outperform rating to an underperform rating in a research note to investors on Monday. They now have a $14.00 price target on the stock, down previously from $25.00. They noted that the move was a valuation call. Analysts at Zacks upgraded shares of Petroleo Brasileiro SA from an underperform rating to a neutral rating in a research note to investors on Monday, November 4th. They now have a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $18.70.
Petroleo Brasileiro SA (NYSE:PBR) is an integrated oil and gas company.
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