Petroleo Brasileiro S.A.- Petrobras $PBR Stock: Point Nemo Capital LLC Trims Stake

Point Nemo Capital LLC reduced its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 88.6% during the third quarter, HoldingsChannel.com reports. The fund owned 8,911 shares of the oil and gas exploration company’s stock after selling 69,110 shares during the quarter. Point Nemo Capital LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $186,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter valued at about $31,000. Ascentis Independent Advisors purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at about $51,000. NFSG Corp grew its position in shares of Petroleo Brasileiro S.A.- Petrobras by 153.8% during the third quarter. NFSG Corp now owns 4,125 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 2,500 shares in the last quarter. GK Wealth Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the third quarter valued at about $97,000. Finally, Vestor Capital LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $119,000.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE PBR opened at $18.52 on Friday. The business’s 50 day moving average price is $22.13 and its 200-day moving average price is $19.22. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $26.39. The company has a market cap of $119.34 billion, a P/E ratio of 4.68, a P/E/G ratio of 0.37 and a beta of 0.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Wall Street Analyst Weigh In

PBR has been the topic of a number of research analyst reports. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. JPMorgan Chase & Co. raised their price target on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. UBS Group lifted their price objective on Petroleo Brasileiro S.A.- Petrobras from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras currently has an average rating of “Buy” and a consensus price target of $20.97.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA, known as Petrobras, is an integrated energy company headquartered in Rio de Janeiro, Brazil. Founded in 1953, it is controlled by the Brazilian government and has publicly traded shares, including American depositary shares listed in the United States.

Petrobras’s core business is exploring for and producing oil and natural gas, with a significant focus on offshore and deepwater fields, including Brazil’s pre-salt basins. The company also operates in refining, transportation, and the sale of oil, fuels, natural gas, and related energy products.

Its operations are centered in Brazil, where it serves energy and fuel markets through its production and downstream businesses.