The Petroleo Brasileiro SA – Petrobras (PBR) Short Interest Down 5.3% in September

The Petroleo Brasileiro SA – Petrobras (PBR) Short Interest Down 5.3% in September

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 73,244,664 shares, a decline of 5.3% from the September 15th total of 77,369,745 shares. Based on an average daily volume of 24,513,491 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.0% of the company’s stock are short sold.

Several large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new stake in Petroleo Brasileiro SA – Petrobras during the second quarter worth about $57,271,000. Horseman Capital Management Ltd purchased a new stake in Petroleo Brasileiro SA – Petrobras during the second quarter worth about $54,416,000. Axiom International Investors LLC DE increased its stake in Petroleo Brasileiro SA – Petrobras by 152.6% in the second quarter. Axiom International Investors LLC DE now owns 7,025,000 shares of the oil and gas exploration company’s stock worth $50,299,000 after buying an additional 4,243,900 shares in the last quarter. Numeric Investors LLC purchased a new stake in Petroleo Brasileiro SA – Petrobras during the second quarter worth about $19,363,000. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Petroleo Brasileiro SA – Petrobras by 16.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,534,950 shares of the oil and gas exploration company’s stock worth $10,990,000 after buying an additional 220,473 shares in the last quarter. Institutional investors and hedge funds own 5.77% of the company’s stock.

A number of brokerages have commented on PBR. HSBC lowered shares of Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday. Barclays PLC restated an “underweight” rating and set a $10.00 price target (up previously from $9.00) on shares of Petroleo Brasileiro SA – Petrobras in a research note on Monday, October 10th. Vetr lowered shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating and set a $9.84 price target for the company. in a research note on Monday, October 10th. Morgan Stanley restated an “overweight” rating and set a $13.00 price target (up previously from $10.00) on shares of Petroleo Brasileiro SA – Petrobras in a research note on Thursday, October 6th. Finally, Tudor Pickering lowered shares of Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.58.

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) opened at 11.41 on Tuesday. The company has a 50 day moving average of $9.74 and a 200 day moving average of $7.92. Petroleo Brasileiro SA – Petrobras has a 52-week low of $2.71 and a 52-week high of $11.44. The company’s market capitalization is $74.42 billion.

Petroleo Brasileiro SA – Petrobras Company Profile

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