Petrobras in talks to sell 49% Gaspetro stake

Analysts release their findings in research reports, which can be anything from one- or two-page summaries to detailed documents that are dozens of pages long. Also shows the analyst firms making the recommendations. The stock garnered a place in the hold list of 5 stock Analysts. 1 analysts have rated the company as a strong buy.

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) belongs to Basic Materials sector. Its overall volumes stood at 20.92M shares against average volume of 24.49M shares, representing a decrease.

The Brazilian real on Wednesday sank to a fresh all-time low of 4.12 per dollar as local political and fiscal concerns magnified losses suffered by Latin American currencies in general. With the volume soaring to 28,889,817 shares, the last trade was called at $4.34. The stock failed to get pushed above the $ 4.80 barrier, the intraday high.

Petrobras (PBR – Get Report) shares are tumbling 3.71% to $3.89 on Thursday morning along with oil prices due to weak USA economic data, Reuters reports. Finally, JPMorgan Chase & Co. raised shares of Petroleo Brasileiro Petrobras SA from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $10.50 in a research note on Monday, June 15th. Company weekly volatility is calculated as 2.30% and price to cash ratio as 2.76. During last 3 month period, 13.9% of total institutional ownership has changed in the company shares. However, the company management has declared itself to be the “victim” of the scandal, as many top officials have been arrested up till now.

Analysts at Zacks have given a short term rating of hold on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) with a rank of 3. The consensus price target is $ 8.26. The firm shares 50 days moving average was calculated -5.52%. S&P 500 has rallied 1.82% during the last 52-weeks.

Petrobras said Tuesday it was in last arrangements with Japan’s Mitsui Gas & Energy to offer a greater part stake in its normal gas dissemination unit. E&P includes exploration, development and production of crude oil liquid and natural, natural gas in Brazil. The Companys offering comprises road transportation products such as Automotive Gasoline, Diesel Fuel, Natural Vehicular Gas, Lubrax; agriculture and cattle raising products such as Sunflower Meal, among others; Industrial products such as Solvents and Paraffins, among others.

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