Voloridge Investment Management LLC Has Raised Its Petroleo Brasileiro Sa Petro (PBR) Position by $9.30 Million as Shares Rose

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Logo

Voloridge Investment Management Llc increased its stake in Petroleo Brasileiro Sa Petro (PBR) by 116.16% based on its latest 2019Q2 regulatory filing with the SEC. Voloridge Investment Management Llc bought 619,917 shares as the company’s stock rose 1.17% . The institutional investor held 1.15M shares of the oil & gas production company at the end of 2019Q2, valued at $17.96M, up from 533,655 at the end of the previous reported quarter. Voloridge Investment Management Llc who had been investing in Petroleo Brasileiro Sa Petro for a number of months, seems to be bullish on the $90.75B market cap company. The stock decreased 1.16% or $0.17 during the last trading session, reaching $14.54. About 8.35M shares traded. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has risen 28.39% since September 13, 2018 and is uptrending. It has outperformed by 28.39% the S&P500.

Voloridge Investment Management Llc, which manages about $1.43 billion and $3.62B US Long portfolio, decreased its stake in Wellcare Health Plans Inc (NYSE:WCG) by 12,471 shares to 12,040 shares, valued at $3.43 million in 2019Q2, according to the filing. It also reduced its holding in Dover Corp (NYSE:DOV) by 42,748 shares in the quarter, leaving it with 11,476 shares, and cut its stake in Amgen Inc (NASDAQ:AMGN).

More notable recent Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) news were published by: Seekingalpha.com which released: “Is Petrobras Brazilian Gold? – Seeking Alpha” on April 04, 2019, also Finance.Yahoo.com with their article: “Petroleo Brasileiro S.A. – Petrobras (PBR) Q2 2019 Earnings Call Transcript – Yahoo Finance” published on August 02, 2019, 247Wallst.com published: “Short Sellers Pull Back on Energy Stocks – 24/7 Wall St.” on September 12, 2019. More interesting news about Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) were released by: Seekingalpha.com and their article: “Petrobras refineries sale lures trading firms, PetroChina, Aramco – Reuters – Seeking Alpha” published on August 27, 2019 as well as Seekingalpha.com‘s news article titled: “Bolsonaro will seek to privatize Petrobras by end of term – report – Seeking Alpha” with publication date: August 21, 2019.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Ratings Coverage

Among 2 analysts covering Petroleo Brasileiro- Petrobras (NYSE:PBR), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Petroleo Brasileiro- Petrobras has $21 highest and $2100 lowest target. $21’s average target is 44.43% above currents $14.54 stock price. Petroleo Brasileiro- Petrobras had 8 analyst reports since March 19, 2019 according to SRatingsIntel. Credit Suisse upgraded it to “Outperform” rating and $21 target in Monday, April 8 report.

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Ratings Chart

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