Petroleo Brasileiro S.A.- Petrobras (PBR) Position Trimmed by Bridgewater Associates LP

Bridgewater Associates LP decreased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 74.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 391,074 shares of the oil and gas exploration company’s stock after selling 1,169,917 shares during the quarter. Bridgewater Associates LP’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $3,125,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PBR. Acadian Asset Management LLC lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 955.6% during the second quarter. Acadian Asset Management LLC now owns 4,066,630 shares of the oil and gas exploration company’s stock worth $32,491,000 after purchasing an additional 3,681,383 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Petroleo Brasileiro S.A.- Petrobras by 29.6% during the first quarter. Baillie Gifford & Co. now owns 16,068,940 shares of the oil and gas exploration company’s stock worth $155,708,000 after purchasing an additional 3,674,430 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $15,022,000. Glen Point Capital LLP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $9,539,000. Finally, Karp Capital Management Corp purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $5,230,000. Hedge funds and other institutional investors own 5.71% of the company’s stock.

Shares of Petroleo Brasileiro S.A.- Petrobras (NYSE PBR) traded down 1.19% on Friday, reaching $9.96. The company had a trading volume of 869,280 shares. The stock has a 50 day moving average price of $9.09 and a 200-day moving average price of $9.00. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $7.61 and a 12 month high of $12.56. The company’s market capitalization is $64.96 billion.

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Several equities research analysts recently weighed in on the company. TheStreet upgraded Petroleo Brasileiro S.A.- Petrobras from a “d+” rating to a “c-” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded 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 note on Tuesday, July 11th. 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 note on Friday, August 11th. Deutsche Bank AG upgraded Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.51.

About Petroleo Brasileiro S.A.- Petrobras

Want to see what other hedge funds are holding PBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR).

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

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