Worth Watching: What Next for Petroleo Brasileiro SA Petrobras (ADR) Stock After Today’s Huge Increase?

Worth Watching: What Next for Petroleo Brasileiro SA Petrobras (ADR) Stock After Today's Huge Increase?

The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) is a huge mover today! About 4.42 million shares traded hands. Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has risen 47.19% since April 25, 2016 and is uptrending. It has outperformed by 41.17% the S&P500.
The move comes after 6 months positive chart setup for the $62.52B company. It was reported on Nov, 28 by Barchart.com. We have $10.95 PT which if reached, will make NYSE:PBR worth $3.75 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 rating was upgraded by Morgan Stanley on Tuesday, March 22 to “Equal-Weight”. On Thursday, September 15 the stock rating was upgraded by Macquarie Research to “Neutral”. The firm has “Underperform” rating by Credit Agricole given on Tuesday, December 15. The rating was downgraded by Raymond James on Thursday, May 19 to “Underperform”. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has “Neutral” rating given on Friday, September 11 by Bank of America. The company was upgraded on Tuesday, May 24 by JP Morgan. On Wednesday, September 30 the stock rating was initiated by Macquarie Research with “Underperform”. The firm has “Equal-Weight” rating by Barclays Capital given on Wednesday, March 23. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Underweight” rating by on Monday, October 10. JP Morgan downgraded Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) on Friday, September 11 to “Neutral” rating.

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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