Petroleo Brasileiro S.A.- Petrobras (PBR) : Traders are bullish on Petroleo Brasileiro S.A.- Petrobras (PBR) as it has outperformed the S&P 500 by a wide margin of 11.04% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.05%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.02% in the last 1 week, and is up 11.47% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Petroleo Brasileiro S.A. – Petrobras is up 46.2% in the last 3-month period. Year-to-Date the stock performance stands at 119.3%. The stock has recorded a 20-day Moving Average of 10% and the 50-Day Moving Average is 21.55%.
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR): The stock opened at $9.33 on Friday but the bulls could not build on the opening and the stock topped out at $9.49 for the day. The stock traded down to $9.24 during the day, due to lack of any buying support eventually closed down at $9.43 with a loss of -0.11% for the day. The stock had closed at $9.44 on the previous day. The total traded volume was 13,329,511 shares.
Also, Major Brokerage house, Barclays downgrades its ratings on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR). In the latest research report, Barclays raises the target price from $7.5 per share to $9 per share. According to the latest information available, the shares are now rated Underweight by the analysts at the agency. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on July 13, 2016.
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.