Petro Rio (OTCMKTS:PTRRY) Coverage Initiated at JPMorgan Chase & Co.

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

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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.