Van ECK Associates Corp decreased its stake in PETROLEO BRASIL/ADR (NYSE:PBR) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,221 shares of the oil and gas exploration company’s stock after selling 624 shares during the quarter. Van ECK Associates Corp’s holdings in PETROLEO BRASIL/ADR were worth $198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital Growth Management LP boosted its stake in shares of PETROLEO BRASIL/ADR by 28.0% in the third quarter. Capital Growth Management LP now owns 8,000,000 shares of the oil and gas exploration company’s stock worth $96,560,000 after buying an additional 1,750,000 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of PETROLEO BRASIL/ADR by 14.9% in the third quarter. Bamco Inc. NY now owns 7,912,703 shares of the oil and gas exploration company’s stock worth $95,506,000 after buying an additional 1,026,622 shares during the last quarter. Axiom International Investors LLC DE boosted its stake in shares of PETROLEO BRASIL/ADR by 137.5% in the third quarter. Axiom International Investors LLC DE now owns 4,999,257 shares of the oil and gas exploration company’s stock worth $60,341,000 after buying an additional 2,894,657 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of PETROLEO BRASIL/ADR in the third quarter worth about $48,728,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PETROLEO BRASIL/ADR by 122.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,478,842 shares of the oil and gas exploration company’s stock worth $32,250,000 after buying an additional 1,364,490 shares during the last quarter. Hedge funds and other institutional investors own 6.99% of the company’s stock.

A number of analysts have recently commented on PBR shares. Barclays downgraded PETROLEO BRASIL/ADR from an “overweight” rating to an “underweight” rating and set a $17.00 target price on the stock. in a research note on Thursday, January 10th. UBS Group upgraded PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 12th. Credit Suisse Group restated a “hold” rating and issued a $15.00 target price on shares of PETROLEO BRASIL/ADR in a research note on Thursday, January 31st. ValuEngine upgraded PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, HSBC upgraded PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.48.

NYSE PBR opened at $16.59 on Friday. The stock has a market capitalization of $108.20 billion, a P/E ratio of 11.60 and a beta of 1.61. PETROLEO BRASIL/ADR has a twelve month low of $9.02 and a twelve month high of $17.20. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 1.10.

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PETROLEO BRASIL/ADR Company Profile

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets.

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Institutional Ownership by Quarter for PETROLEO BRASIL/ADR (NYSE:PBR)

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