Petroleo Brasileiro S.A.- Petrobras (PBR) : The consensus price target for Petroleo Brasileiro S.A.- Petrobras (PBR) is $7.91 for the short term with a standard deviation of $4.17. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $17, however, the pessimist price target for the company is $3.
Petroleo Brasileiro S.A.- Petrobras (PBR), A reduction of 7,482,874 shares or 6.8% was observed in the short interest of Petroleo Brasileiiro Petrobras The interest on June 30,2016 came in at 102,834,802 shares and as per the average daily trading of 24,321,833 shares, the days to cover are 4. The reduced interest is 2.8% of the floated shares. The data of June 15,2016 put the interest at 110,317,676 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Brokerage firm JP Morgan upgrades its rating on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR). As per the latest information, the brokerage house raises the price target to $7.4 per share from a prior target of $5.8. The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by the firm was issued on May 24, 2016.
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR): stock turned positive on Thursday. Though the stock opened at $8.22, the bulls momentum made the stock top out at $8.24 level for the day. The stock recorded a low of $8.04 and closed the trading day at $8.21, in the green by 3.66%. The total traded volume for the day was 26,584,314. The stock had closed at $7.92 in the previous days trading.
Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining, Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution, and International segments. E&P includes exploration, development and production of crude oil, natural gas liquid and natural gas in Brazil. RTM covers the refining, logistics, transport and trading of crude oil and oil products activities, export of ethanol, extraction and processing of shale, and interests in petrochemical companies in Brazil. The Gas and Power segment includes transportation and trading of natural gas produced in Brazil, among other activities. Biofuels segment covers the activities of production of biodiesel and its co-products, as well as the ethanol-related activities. The Distribution segment includes its retail network and wholesale channels. The International segment includes its activities in the Americas, Africa, Europe and Asia.