Petroleo Brasileiro SA Petrobras (NYSE:PBR.A) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “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. “
Separately, Barclays PLC downgraded shares of Petroleo Brasileiro SA Petrobras from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $7.50 to $9.00 in a research report on Friday, July 15th.
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About Petroleo Brasileiro SA Petrobras
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.
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