HighTower Advisors LLC Cuts Position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

HighTower Advisors LLC lowered its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 468,233 shares of the oil and gas exploration company’s stock after selling 8,350 shares during the period. HighTower Advisors LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $4,544,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. raised its position in Petroleo Brasileiro S.A.- Petrobras by 29.6% in the first quarter. Baillie Gifford & Co. now owns 16,068,940 shares of the oil and gas exploration company’s stock valued at $155,708,000 after buying an additional 3,674,430 shares in the last quarter. BP PLC purchased a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth approximately $14,644,000. Glen Point Capital LLP bought a new position in Petroleo Brasileiro S.A.- Petrobras during the first quarter worth about $9,539,000. Janus Capital Management LLC raised its stake in Petroleo Brasileiro S.A.- Petrobras by 15.0% in the fourth quarter. Janus Capital Management LLC now owns 5,698,093 shares of the oil and gas exploration company’s stock worth $57,608,000 after buying an additional 741,182 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at approximately $5,230,000. Institutional investors and hedge funds own 6.18% of the company’s stock.

Petroleo Brasileiro S.A.- Petrobras (PBR) traded up 4.23% during mid-day trading on Wednesday, hitting $8.38. 16,301,828 shares of the stock were exchanged. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $7.34 and a 52 week high of $12.56. The stock’s market capitalization is $54.66 billion. The company has a 50-day moving average of $8.61 and a 200-day moving average of $9.67.

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Several research firms recently commented on PBR. HSBC Holdings plc raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Tuesday, March 28th. Zacks Investment Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Tuesday. Credit Suisse Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Monday, May 15th. Societe Generale raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Friday, March 24th. Finally, BidaskClub raised shares of Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $10.51.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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

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