Today’s Price Action: Petroleo Brasileiro SA Petrobras (ADR) on Focus After Trading At 52-Week Highs

Today's Price Action: Petroleo Brasileiro SA Petrobras (ADR) on Focus After Trading At 52 Week Highs

The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) hit a new 52-week high and has $13.75 target or 23.00% above today’s $11.18 share price. The 8 months bullish chart indicates low risk for the $71.16B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $13.75 price target is reached, the company will be worth $16.37 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.38M shares traded hands. Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has risen 113.41% since March 14, 2016 and is uptrending. It has outperformed by 107.80% the S&P500.

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) Ratings Coverage

Out of 14 analysts covering Petroleo Brasileiro Petrobras SA (NYSE:PBR), 2 rate it a “Buy”, 4 “Sell”, while 8 “Hold”. This means 14% are positive. $13 is the highest target while $2 is the lowest. The $8.90 average target is -20.39% below today’s ($11.18) stock price. Petroleo Brasileiro Petrobras SA has been the topic of 29 analyst reports since August 7, 2015 according to StockzIntelligence Inc. On Wednesday, March 23 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The rating was upgraded by Macquarie Research on Thursday, September 15 to “Neutral”. The stock has “Underweight” rating given by Barclays Capital on Wednesday, July 13. The stock has “Buy” rating given by Citigroup on Wednesday, October 5. As per Wednesday, September 30, the company rating was initiated by Macquarie Research. The company was initiated on Tuesday, December 15 by Credit Agricole. The rating was maintained by Credit Suisse on Friday, September 11 with “Underperform”. As per Monday, September 26, the company rating was maintained by Credit Suisse. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Underperform” rating by Raymond James on Thursday, May 19. The company was maintained on Thursday, October 6 by Morgan Stanley.

According to Zacks Investment Research, “Petrolo Brasilerio was founded in October of 1953 to operate in the Brazilian oil sector. The company is a mixed capital corporation that operates in the exploration, production, refining, commercialization, transportation, import, and export of oil and oil products. It also operates in the natural gas segment, in oil product distribution, in petrochemicals, and in fertilizers. The company’s main domestic clients are oil products and natural gas distributors as well as major industrial consumers.”

Another recent and important Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) news was published by Investorplace.com which published an article titled: “Why Yahoo! Inc. (YHOO), salesforce.com, inc. (CRM) and Petroleo Brasileiro SA …” on September 23, 2016.

PBR Company Profile

Petroleo Brasileiro S.A.-Petrobras (Petrobras), incorporated on October 3, 1953, is an energy company. The Company, through its subsidiaries, is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks, as well as oil products, natural gas and other liquid hydrocarbons. The Firm operates in five divisions: Exploration and Production (E&P); Refining, Transportation and Marketing (RT&M); Gas and Power; Biofuels, and Distribution. The Firm carries out energy related activities, such as research, development, production, transport, distribution and trading of various forms of energy, as well as other related or similar activities.

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