Saturday, June 25, 2022

A Guide To The Risks Of Investing In Petroleo Brasileiro S.A. – Petrobras (PBR)

BofA Securities downgraded its Petroleo Brasileiro S.A. – Petrobras [PBR] rating to a Neutral from a a Buy in a research note published on Tuesday. PT values the company’s stock at a premium of 75.16 to its Tuesday closing price. A number of analysts have revised their coverage, including Goldman’s analysts, who increased its forecast for the stock in mid December from “a Neutral” to “a Buy”. HSBC Securities also remained covering PBR and has decreased its forecast on October 14, 2021 with a “Hold” recommendation from previously “Buy” rating. Scotiabank revised its rating on August 05, 2021. It rated PBR as “a Sector outperform” which previously was an “a Sector perform”.


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Price Performance Review of PBR

On Tuesday, Petroleo Brasileiro S.A. – Petrobras [NYSE:PBR] saw its stock fall -0.52% to $11.55. On the same session, the stock had its day’s lowest price of $11.50, but rose to a high of $11.855. Over the last five days, the stock has lost -8.26%. Petroleo Brasileiro S.A. – Petrobras shares have risen nearly 6.30% since the year began. Nevertheless, the stocks have risen 3.43% over the past one year. While a 52-week high of $16.12 was reached on 05/23/22, a 52-week low of $8.79 was recorded on 01/10/22. SMA at 50 days reached $14.04, while 200 days put it at $12.38. A total of 37.47 million shares were traded, compared to the trading of 44.58 million shares in the previous session.

Levels Of Support And Resistance For PBR Stock

The 24-hour chart illustrates a support level at 11.41, which if violated will result in even more drops to 11.28. On the upside, there is a resistance level at 11.77. A further resistance level may holdings at 11.99. The Relative Strength Index (RSI) on the 14-day chart is 29.20, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.44%. Stochastics %K at 11.67% indicates the stock is a buying.

Petroleo Brasileiro S.A. – Petrobras [PBR] – Who Are The Largest Shareholders?

In filings from GQG Partners LLC, it is revealed that the company now owns 194,236,315 shares, or roughly 5.22% of the outstanding PBR shares. In other words, the investor’s shares have risen by 6,558,516 from its previous 13-F filing of 187677799.0. Additionally, Baillie Gifford & Co. decreased -30.23% of its stake after which the total value it holdings stand at $996,600,850, while Arrowstreet Capital LP added 84.30% of its stake to hold $653.35 million in the firm. Over the last quarter, Fisher Asset Management LLC sold -1,536,415 shares of Petroleo Brasileiro S.A. – Petrobras, while Fidelity Management & Research Co sold 6,755,874 shares. At present, Lazard Asset Management LLC is holding 30,293,524 shares valued at $420.47 million. Capital Research & Management Co owned 28,310,945 shares of the company at the time of its most recent 13F filing, worth $392.96 million.

According to FactSet, Petroleo Brasileiro S.A. – Petrobras’s share price will average $16.45 in the next year, based on opinions of analysts polled by the firm. This is up nearly 46.34 percent from its previous closing price of $11.61. Analysts expect Petroleo Brasileiro S.A. – Petrobras stock to reach the higher price of $19.50, while the lowest price estimate is $13.00. However, 14 analysts have rated PBR stock as an Overweight in their predictions for 2022.

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