Vetr downgraded shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) from a strong-buy rating to a buy rating in a research report report published on Monday, MarketBeat.Com reports. The brokerage currently has $3.62 price objective on the oil and gas exploration company’s stock.

PBR has been the topic of a number of other research reports. Societe Generale dropped their target price on shares of Petroleo Brasileiro SA Petrobras from $6.40 to $5.50 and set a hold rating on the stock in a report on Friday, November 20th. CLSA restated an underperform rating on shares of Petroleo Brasileiro SA Petrobras in a report on Tuesday, December 15th. Zacks Investment Research upgraded shares of Petroleo Brasileiro SA Petrobras from a hold rating to a buy rating and set a $6.00 target price on the stock in a report on Tuesday, October 13th. Deutsche Bank reiterated a sell rating on shares of Petroleo Brasileiro SA Petrobras in a research note on Tuesday, October 6th. Finally, Barclays cut shares of Petroleo Brasileiro SA Petrobras from an overweight rating to an equal weight rating and dropped their price target for the stock from $11.00 to $6.50 in a research note on Monday, October 12th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $7.05.

Petroleo Brasileiro SA Petrobras (NYSE:PBR) opened at 3.29 on Monday. Petroleo Brasileiro SA Petrobras has a 52 week low of $2.71 and a 52 week high of $10.55. The company’s market capitalization is $21.46 billion. The company’s 50-day moving average is $3.81 and its 200 day moving average is $4.95.

A hedge fund recently bought a new stake in Petroleo Brasileiro SA Petrobras stock. Convector Capital Management LP purchased a new stake in shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 470,000 shares of the oil and gas exploration company’s stock, valued at approximately $2,021,000. Petroleo Brasileiro SA Petrobras makes up 1.9% of Convector Capital Management LP’s portfolio, making the stock its 18th largest position.

Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (NYSE:PBR); 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.

12 Month Chart for NYSE:PBR

To view Vetr’s full report, visit Vetr’s official website.

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