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Unusual Call Option Trade in Petroleo Brasileiro ADR Worth $2,692.8K

George Maybach

Published: June 12, 2023 10:26 pm

Last Updated: June 13, 2023 7:49 am

On June 12, 2023 at 15:38:35 ET an unusually large $2,692.80K block of Call contracts in Petroleo Brasileiro S.A. Petrobras – ADR (PBR) was sold, with a strike price of $12.00 / share, expiring in 4 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 19.49 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in PBR options.

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

What is the Fund Sentiment?

There are 597 funds or institutions reporting positions in Petroleo Brasileiro S.A. Petrobras – ADR. This is a decrease of 2 owner(s) or 0.33% in the last quarter. Average portfolio weight of all funds dedicated to PBR is 0.49%, a decrease of 5.88%. Total shares owned by institutions decreased in the last three months by 2.63% to 892,570K shares. The put/call ratio of PBR is 1.28, indicating a bearish outlook.

Analyst Price Forecast Suggests 5.33% Upside

As of March 30, 2023, the average one-year price target for Petroleo Brasileiro S.A. 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 5.33% from its latest reported closing price of 13.76.

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

The projected annual revenue for Petroleo Brasileiro S.A. Petrobras – ADR is 607,696MM, a decrease of 4.85%. The projected annual non-GAAP EPS is 10.40.

What are Other Shareholders Doing?

GQG Partners holds 211,351K shares representing 1.62% ownership of the company. In it’s prior filing, the firm reported owning 209,862K shares, representing an increase of 0.70%. The firm decreased its portfolio allocation in PBR by 4.52% over the last quarter.

Baillie Gifford holds 57,674K shares representing 0.44% ownership of the company. In it’s prior filing, the firm reported owning 59,110K shares, representing a decrease of 2.49%. The firm decreased its portfolio allocation in PBR by 69.12% 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. No change in the last quarter.

Arrowstreet Capital, Limited Partnership holds 41,597K shares representing 0.32% ownership of the company. In it’s prior filing, the firm reported owning 41,681K shares, representing a decrease of 0.20%. The firm decreased its portfolio allocation in PBR by 9.61% 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