Truist Financial Corp Boosts Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Truist Financial Corp lifted its holdings in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRFree Report) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,221 shares of the oil and gas exploration company’s stock after buying an additional 2,644 shares during the quarter. Truist Financial Corp’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. GQG Partners LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 0.7% in the first quarter. GQG Partners LLC now owns 211,351,114 shares of the oil and gas exploration company’s stock valued at $2,204,392,000 after buying an additional 1,489,361 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% in the first quarter. Lazard Asset Management LLC now owns 30,293,524 shares of the oil and gas exploration company’s stock valued at $448,343,000 after buying an additional 826,668 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 3.9% in the first quarter. ARGA Investment Management LP now owns 18,631,553 shares of the oil and gas exploration company’s stock valued at $194,787,000 after buying an additional 698,049 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 4.2% in the first quarter. Mondrian Investment Partners LTD now owns 13,319,003 shares of the oil and gas exploration company’s stock valued at $138,917,000 after buying an additional 541,982 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 2.0% in the first quarter. Thornburg Investment Management Inc. now owns 6,912,021 shares of the oil and gas exploration company’s stock valued at $72,092,000 after buying an additional 136,000 shares in the last quarter. 11.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PBR shares. Citigroup cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $14.00 in a report on Thursday, August 10th. UBS Group raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.10 to $17.50 in a report on Thursday, August 24th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Friday, October 13th. JPMorgan Chase & Co. cut Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $14.50 in a report on Friday, August 4th. Finally, Bank of America raised Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to a “buy” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.34.

Check Out Our Latest Stock Report on PBR

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE PBR opened at $15.23 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $8.88 and a fifty-two week high of $16.55. The stock has a market cap of $99.33 billion, a price-to-earnings ratio of 3.30 and a beta of 1.58. The business has a fifty day moving average of $15.13 and a 200-day moving average of $13.83. The company has a quick ratio of 0.64, a current ratio of 0.90 and a debt-to-equity ratio of 0.62.

About Petróleo Brasileiro S.A. – Petrobras

(Free Report)

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also 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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Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

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