Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 64,366,551 shares, a decrease of 14.9% from the October 14th total of 75,592,867 shares. Based on an average daily volume of 25,744,204 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.7% of the shares of the stock are short sold.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth approximately $57,271,000. Horseman Capital Management Ltd bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth approximately $54,416,000. Axiom International Investors LLC DE increased its position in Petroleo Brasileiro SA – Petrobras by 152.6% in the second quarter. Axiom International Investors LLC DE now owns 7,025,000 shares of the oil and gas exploration company’s stock worth $50,299,000 after buying an additional 4,243,900 shares during the period. Numeric Investors LLC bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth approximately $19,363,000. Finally, Ashmore Group plc bought a new position in Petroleo Brasileiro SA – Petrobras during the second quarter worth approximately $7,992,000. 5.80% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on PBR. Macquarie raised shares of Petroleo Brasileiro SA – Petrobras from an “underperform” rating to a “neutral” rating in a report on Thursday, September 15th. Vetr lowered shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating and set a $8.00 target price on the stock. in a report on Wednesday, August 3rd. Tudor Pickering lowered shares of Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised shares of Petroleo Brasileiro SA – Petrobras from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Finally, Societe Generale reaffirmed a “hold” rating on shares of Petroleo Brasileiro SA – Petrobras in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Petroleo Brasileiro SA – Petrobras currently has a consensus rating of “Hold” and an average price target of $8.67.

Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 9.65 on Friday. Petroleo Brasileiro SA – Petrobras has a 12 month low of $2.71 and a 12 month high of $12.56. The company has a 50 day moving average of $10.80 and a 200-day moving average of $8.59. The firm’s market capitalization is $62.94 billion.

About Petroleo Brasileiro SA – Petrobras

Petroleo Brasileiro SA-Petrobras is an energy company. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks, as well as oil products, natural gas and other liquid hydrocarbons.

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