Price Action Alert: Could Petroleo Brasileiro SA Petrobras (ADR) Decline After Today’s Huge Increase?

Price Action Alert: Could Petroleo Brasileiro SA Petrobras (ADR) Decline After Today's Huge Increase?

The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) is a huge mover today! About 16.78M shares traded hands. Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has risen 138.20% since March 15, 2016 and is uptrending. It has outperformed by 132.72% the S&P500.
The move comes after 6 months positive chart setup for the $76.03B company. It was reported on Oct, 18 by Barchart.com. We have $18.84 PT which if reached, will make NYSE:PBR worth $46.38 billion more.

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. Petroleo Brasileiro Petrobras SA has been the topic of 29 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Hold” rating by Deutsche Bank on Friday, August 7. The rating was downgraded by Tudor Pickering on Tuesday, September 13 to “Hold”. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Equal-Weight” rating by Barclays Capital on Wednesday, March 23. As per Thursday, February 4, the company rating was downgraded by JP Morgan. As per Thursday, October 6, the company rating was maintained by Morgan Stanley. The company was upgraded on Friday, August 26 by Credit Suisse. Credit Suisse maintained it with “Underperform” rating and $3 target price in Friday, September 11 report. Credit Suisse initiated it with “Underperform” rating and $2 target price in Tuesday, January 12 report. The firm has “Market Perform” rating given on Wednesday, September 21 by Raymond James. Credit Suisse maintained it with “Neutral” rating and $11 target price in Monday, September 26 report.

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.”

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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