CoreCommodity Management LLC reduced its stake in PETROLEO BRASIL/ADR (NYSE:PBR) by 75.0% during the fourth quarter, HoldingsChannel reports. The firm owned 12,458 shares of the oil and gas exploration company’s stock after selling 37,354 shares during the quarter. CoreCommodity Management LLC’s holdings in PETROLEO BRASIL/ADR were worth $162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stifel Financial Corp bought a new position in shares of PETROLEO BRASIL/ADR during the 4th quarter valued at about $170,000. Hudson Bay Capital Management LP bought a new position in shares of PETROLEO BRASIL/ADR during the 4th quarter valued at about $2,031,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of PETROLEO BRASIL/ADR by 25.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,135 shares of the oil and gas exploration company’s stock valued at $899,000 after purchasing an additional 14,056 shares during the last quarter. Newfoundland Capital Management boosted its holdings in shares of PETROLEO BRASIL/ADR by 1.2% during the 4th quarter. Newfoundland Capital Management now owns 1,374,881 shares of the oil and gas exploration company’s stock valued at $17,928,000 after purchasing an additional 16,481 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC bought a new position in shares of PETROLEO BRASIL/ADR during the 4th quarter valued at about $202,000. 6.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PBR opened at $16.59 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 1.10. PETROLEO BRASIL/ADR has a 12 month low of $9.02 and a 12 month high of $17.20. The stock has a market capitalization of $108.20 billion, a P/E ratio of 11.60 and a beta of 1.61.

Several research analysts have commented on PBR shares. UBS Group raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating in a report on Tuesday, February 12th. Barclays downgraded shares of PETROLEO BRASIL/ADR from an “overweight” rating to an “underweight” rating and set a $17.00 price target for the company. in a report on Thursday, January 10th. Zacks Investment Research downgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “strong sell” rating in a report on Thursday, January 3rd. Credit Suisse Group reaffirmed a “hold” rating and issued a $15.00 price target on shares of PETROLEO BRASIL/ADR in a report on Thursday, December 6th. Finally, ValuEngine raised shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $16.48.

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About PETROLEO BRASIL/ADR

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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