Baillie Gifford & Co. decreased its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,590,072 shares of the oil and gas exploration company’s stock after selling 1,256,576 shares during the period. Baillie Gifford & Co. owned 0.22% of Petroleo Brasileiro S.A.- Petrobras worth $146,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $103,000. Oppenheimer & Co. Inc. acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $110,000. D.A. Davidson & CO. lifted its position in Petroleo Brasileiro S.A.- Petrobras by 276.6% during the 2nd quarter. D.A. Davidson & CO. now owns 13,402 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 9,843 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth about $118,000. Finally, Cedar Wealth Management LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 28.9% during the 2nd quarter. Cedar Wealth Management LLC now owns 16,067 shares of the oil and gas exploration company’s stock worth $128,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 5.68% of the company’s stock.

Several brokerages recently issued reports on PBR. Societe Generale downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and upped their price target for the stock from $10.51 to $11.00 in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Barclays PLC set a $10.00 price target on shares of Petroleo Brasileiro S.A.- Petrobras and gave the stock a “sell” rating in a research report on Tuesday, October 10th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 4th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.47.

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About Petroleo Brasileiro S.A.- Petrobras

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

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