Commonwealth Equity Services LLC lowered its stake in PETROLEO BRASIL/ADR (NYSE:PBR) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,997 shares of the oil and gas exploration company’s stock after selling 5,196 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PETROLEO BRASIL/ADR were worth $312,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Private Advisory Group LLC acquired a new stake in PETROLEO BRASIL/ADR during the fourth quarter worth about $359,000. AGF Investments Inc. increased its position in PETROLEO BRASIL/ADR by 7.4% during the 4th quarter. AGF Investments Inc. now owns 91,636 shares of the oil and gas exploration company’s stock valued at $1,192,000 after purchasing an additional 6,282 shares during the period. Massachusetts Financial Services Co. MA increased its position in PETROLEO BRASIL/ADR by 122.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,478,842 shares of the oil and gas exploration company’s stock valued at $32,250,000 after purchasing an additional 1,364,490 shares during the period. Greenleaf Trust grew its position in shares of PETROLEO BRASIL/ADR by 23.6% during the 4th quarter. Greenleaf Trust now owns 35,092 shares of the oil and gas exploration company’s stock worth $457,000 after buying an additional 6,689 shares during the period. Finally, Larson Financial Group LLC acquired a new stake in shares of PETROLEO BRASIL/ADR during the 4th quarter worth approximately $76,000. 7.06% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on PBR. UBS Group raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 12th. Zacks Investment Research raised shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, March 18th. Barclays cut PETROLEO BRASIL/ADR from an “overweight” rating to an “underweight” rating and set a $17.00 target price on the stock. in a research note on Thursday, January 10th. ValuEngine upgraded PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, HSBC upgraded PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $17.98.
PETROLEO BRASIL/ADR (NYSE:PBR) last released its earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.06). The business had revenue of $24.35 billion for the quarter, compared to analysts’ expectations of $24.18 billion. PETROLEO BRASIL/ADR had a return on equity of 11.44% and a net margin of 7.50%. As a group, equities analysts anticipate that PETROLEO BRASIL/ADR will post 1.39 earnings per share for the current fiscal year.
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About PETROLEO BRASIL/ADR
Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. 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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