On April 10, 2023 at 10:57:13 ET an unusually large $709.02K block of Put contracts in Petroleo Brasileiro SA Petrobras ADR (PBR) was bought, with a strike price of $15.00 / share, expiring in 284 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.04 sigmas above the mean, placing it in the 99.95 percentile of all recent large trades made in PBR options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 35.58% Upside

As of March 30, 2023, the average one-year price target for Petroleo Brasileiro SA Petrobras ADR is $14.49. The forecasts range from a low of $9.22 to a high of $19.17. The average price target represents an increase of 35.58% from its latest reported closing price of $10.69.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Petroleo Brasileiro SA Petrobras ADR is $607,696MM, a decrease of 5.23%. The projected annual non-GAAP EPS is $10.40.

What is the Fund Sentiment?

There are 597 funds or institutions reporting positions in Petroleo Brasileiro SA Petrobras ADR. This is a decrease of 5 owner(s) or 0.83% in the last quarter. Average portfolio weight of all funds dedicated to PBR is 0.60%, a decrease of 9.42%. Total shares owned by institutions decreased in the last three months by 5.06% to 910,411K shares. The put/call ratio of PBR is 1.23, indicating a bearish outlook.

What are Large Shareholders Doing?

GQG Partners holds 209,862K shares representing 1.61% ownership of the company. In it’s prior filing, the firm reported owning 214,164K shares, representing a decrease of 2.05%. The firm decreased its portfolio allocation in PBR by 20.87% over the last quarter.

Baillie Gifford & holds 59,110K shares representing 0.45% ownership of the company. In it’s prior filing, the firm reported owning 61,627K shares, representing a decrease of 4.26%. The firm decreased its portfolio allocation in PBR by 16.33% over the last quarter.

GSIHX – Goldman Sachs GQG Partners International Opportunities Fund Shares holds 49,217K shares representing 0.38% ownership of the company. In it’s prior filing, the firm reported owning 45,543K shares, representing an increase of 7.47%. The firm decreased its portfolio allocation in PBR by 14.06% over the last quarter.

GQGPX – GQG PARTNERS EMERGING MARKETS EQUITY FUND Investor Shares holds 43,610K shares representing 0.33% ownership of the company. In it’s prior filing, the firm reported owning 37,763K shares, representing an increase of 13.41%. The firm decreased its portfolio allocation in PBR by 6.78% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 41,681K shares representing 0.32% ownership of the company. In it’s prior filing, the firm reported owning 43,344K shares, representing a decrease of 3.99%. The firm decreased its portfolio allocation in PBR by 21.26% over the last quarter.

Petroleo Brasileiro S.A. Petrobras Background Information
(This description is provided by the company.)

Petróleo Brasileiro S.A., better known by the acronym Petrobras, is a state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The companys name translates to Brazilian Petroleum Corporation — Petrobras.

This article originally appeared on Fintel

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