Cibc World Market Inc. Increases Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Cibc World Market Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Rating) by 172.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 44,223 shares of the oil and gas exploration company’s stock after purchasing an additional 28,002 shares during the period. Cibc World Market Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $517,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 34.3% in the 1st quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock worth $50,000 after purchasing an additional 861 shares during the period. Optimum Investment Advisors boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 33.3% in the 2nd quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas exploration company’s stock worth $47,000 after purchasing an additional 1,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 9.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,000 shares of the oil and gas exploration company’s stock worth $140,000 after purchasing an additional 1,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 0.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 224,661 shares of the oil and gas exploration company’s stock worth $2,624,000 after purchasing an additional 1,062 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 2.6% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 41,819 shares of the oil and gas exploration company’s stock worth $486,000 after purchasing an additional 1,062 shares during the period. Institutional investors own 11.74% of the company’s stock.

Analyst Upgrades and Downgrades

PBR has been the subject of several analyst reports. UBS Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “sell” rating in a research note on Monday. Itaú Unibanco downgraded Petróleo Brasileiro S.A. – Petrobras to a “market perform” rating and set a $14.50 target price for the company. in a research note on Tuesday, August 30th. StockNews.com upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. JPMorgan Chase & Co. downgraded Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $14.00 in a research report on Monday, October 31st. Finally, Credit Suisse Group downgraded Petróleo Brasileiro S.A. – Petrobras from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $16.00 in a research report on Monday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Hold” and a consensus price target of $14.26.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR opened at $10.16 on Wednesday. The company has a market cap of $66.26 billion, a PE ratio of 1.95, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $13.09 and a 200-day moving average price of $13.26. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $9.56 and a 12-month high of $16.32.

Petróleo Brasileiro S.A. – Petrobras Profile

(Get Rating)

Petróleo Brasileiro SA – Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

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Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

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