Migdal Insurance & Financial Holdings Ltd. Decreases Holdings in Petroleo Brasileiro S.A.- Petrobras (PBR)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 45.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,000 shares of the oil and gas exploration company’s stock after selling 19,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $181,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PBR. Janus Henderson Group PLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at $44,588,000. Acadian Asset Management LLC increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 955.6% in the second quarter. Acadian Asset Management LLC now owns 4,066,630 shares of the oil and gas exploration company’s stock valued at $32,491,000 after purchasing an additional 3,681,383 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at $15,022,000. Balyasny Asset Management LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at $11,825,000. Finally, Glen Point Capital LLP increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 92.5% in the second quarter. Glen Point Capital LLP now owns 1,895,300 shares of the oil and gas exploration company’s stock valued at $15,143,000 after purchasing an additional 910,833 shares during the last quarter. Hedge funds and other institutional investors own 5.71% of the company’s stock.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) traded up 0.19% during trading on Wednesday, hitting $10.49. 1,287,142 shares of the company traded hands. The company’s market capitalization is $68.42 billion. The stock has a 50 day moving average price of $9.87 and a 200 day moving average price of $9.08. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $7.61 and a 12-month high of $12.56.

PBR has been the topic of several research reports. Zacks Investment Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Tuesday, July 11th. Credit Suisse Group set a $12.00 price objective on shares of Petroleo Brasileiro S.A.- Petrobras and gave the company a “buy” rating in a report on Saturday, August 5th. ValuEngine upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Friday, September 1st. TheStreet upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “d+” rating to a “c-” rating in a research note on Monday, August 7th. Finally, BidaskClub upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.36.

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Petroleo Brasileiro S.A.- Petrobras Company Profile

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

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