Seven Eight Capital LP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 104.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,586 shares of the oil and gas exploration company’s stock after purchasing an additional 170,086 shares during the period. Seven Eight Capital LP’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBR. Nationwide Fund Advisors raised its position in Petroleo Brasileiro S.A.- Petrobras by 62.5% during the 1st quarter. Nationwide Fund Advisors now owns 130,000 shares of the oil and gas exploration company’s stock valued at $1,260,000 after purchasing an additional 50,000 shares during the last quarter. Eqis Capital Management Inc. bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $144,000. First Trust Advisors LP bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $157,000. Capital Fund Management S.A. bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $459,000. Finally, Princeton Alpha Management LP bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at approximately $115,000. 5.71% of the stock is owned by institutional investors and hedge funds.

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PBR has been the subject of a number of recent analyst reports. ValuEngine raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. Credit Suisse Group set a $12.00 target price on Petroleo Brasileiro S.A.- Petrobras and gave the stock a “buy” rating in a research report on Sunday, May 28th. BidaskClub lowered Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research report on Tuesday, July 11th. Finally, Barclays PLC reissued an “underweight” rating and issued a $8.00 target price (down previously from $11.00) on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $10.51.

Petroleo Brasileiro S.A.- Petrobras (NYSE PBR) traded up 0.10% on Wednesday, reaching $9.90. The company had a trading volume of 2,615,770 shares. The company’s market capitalization is $64.57 billion. The stock’s 50-day moving average is $8.98 and its 200-day moving average is $8.98. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $7.61 and a 52 week high of $12.56.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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

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