Allianz Asset Management AG cut its stake in shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) by 74.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,259 shares of the oil and gas exploration company’s stock after selling 128,975 shares during the period. Allianz Asset Management AG’s holdings in Petroleo Brasileiro SA Petrobras were worth $437,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PBR. Private Advisor Group LLC increased its stake in Petroleo Brasileiro SA Petrobras by 13.7% in the fourth quarter. Private Advisor Group LLC now owns 33,179 shares of the oil and gas exploration company’s stock valued at $380,000 after buying an additional 3,992 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Petroleo Brasileiro SA Petrobras by 44.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 67,964 shares of the oil and gas exploration company’s stock valued at $687,000 after buying an additional 20,775 shares during the last quarter. Van ECK Associates Corp boosted its position in Petroleo Brasileiro SA Petrobras by 107.5% in the fourth quarter. Van ECK Associates Corp now owns 34,766 shares of the oil and gas exploration company’s stock worth $351,000 after buying an additional 18,015 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in shares of Petroleo Brasileiro SA Petrobras by 7.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 26,259 shares of the oil and gas exploration company’s stock valued at $265,000 after buying an additional 1,734 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Petroleo Brasileiro SA Petrobras by 8.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,188,604 shares of the oil and gas exploration company’s stock valued at $12,017,000 after buying an additional 95,498 shares during the period. 6.03% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Petroleo Brasileiro SA Petrobras (NYSE:PBR)

Shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) traded down 0.278% during midday trading on Friday, reaching $8.975. 20,947,883 shares of the company’s stock were exchanged. Petroleo Brasileiro SA Petrobras has a 12-month low of $5.45 and a 12-month high of $12.56. The stock’s market capitalization is $58.54 billion. The firm has a 50-day moving average of $9.46 and a 200-day moving average of $10.39.

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Several research analysts have commented on PBR shares. JPMorgan Chase & Co. upgraded shares of Petroleo Brasileiro SA Petrobras from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.42 to $10.63 in a research report on Monday, February 13th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $11.00 target price on shares of Petroleo Brasileiro SA Petrobras in a research note on Monday, March 6th. Zacks Investment Research cut shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 21st. Barclays PLC reissued an “underweight” rating and issued a $11.00 price objective on shares of Petroleo Brasileiro SA Petrobras in a research note on Wednesday, February 1st. Finally, HSBC Holdings plc raised shares of Petroleo Brasileiro SA Petrobras from a “hold” rating to a “buy” rating in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.46.

Petroleo Brasileiro SA Petrobras Company Profile

5 Day Chart for NYSE:PBR

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