Analysts at JPMorgan Chase & Co. assumed coverage on shares of Petro Rio (OTCMKTS:PTRRY – Get Rating) in a report issued on Thursday, The Fly reports. The firm set an “overweight” rating on the stock.
Separately, HSBC downgraded Petro Rio from a “buy” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $42.00 in a research note on Tuesday, November 15th.
Petro Rio Price Performance
Shares of OTCMKTS PTRRY opened at 6.63 on Thursday. Petro Rio has a 12 month low of 6.63 and a 12 month high of 6.63. The business’s 50 day simple moving average is 4.82.
Petro Rio Company Profile
Petro Rio SA, together with its subsidiaries, engages in the exploration, development, and production of oil and natural gas properties in Brazil and internationally. It holds a 100% interest in the Polvo Field covering approximately 134 square kilometres located in the southern portion of the Campos Basin, Rio de Janeiro; and the Frade Field that consists of approximately 154 kilometres located in the northern region of the Campos Basin, Rio de Janeiro.
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