BidaskClub downgraded shares of Petrobras Argentina S.A. (NYSE:PZE) from a buy rating to a hold rating in a report issued on Wednesday, July 19th.
Separately, ValuEngine cut Petrobras Argentina from a strong-buy rating to a buy rating in a research report on Tuesday, May 16th.
Shares of Petrobras Argentina (NYSE:PZE) remained flat at $11.10 during midday trading on Wednesday. The stock had a trading volume of 13,615 shares. Petrobras Argentina has a 52-week low of $4.66 and a 52-week high of $13.47. The firm has a 50 day moving average price of $11.85 and a 200-day moving average price of $10.98. The company’s market cap is $2.24 billion.
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Hedge funds have recently added to or reduced their stakes in the stock. Cowen Group Inc. boosted its stake in Petrobras Argentina by 198.1% in the first quarter. Cowen Group Inc. now owns 162,731 shares of the oil and gas company’s stock worth $1,798,000 after buying an additional 108,138 shares during the last quarter. Private Advisory Group LLC purchased a new stake in Petrobras Argentina during the first quarter worth about $254,000. Eqis Capital Management Inc. purchased a new stake in Petrobras Argentina during the second quarter worth about $266,000. World Asset Management Inc boosted its stake in Petrobras Argentina by 0.3% in the first quarter. World Asset Management Inc now owns 12,533 shares of the oil and gas company’s stock worth $138,000 after buying an additional 34 shares during the last quarter. Finally, Comerica Bank raised its position in Petrobras Argentina by 1.5% in the first quarter. Comerica Bank now owns 11,576 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 172 shares during the period. 3.14% of the stock is owned by hedge funds and other institutional investors.
Petrobras Argentina Company Profile
Petrobras Argentina SA, formerly Petrobras Energia SA, is an Argentina-based company primarily engaged in the petroleum refining sector. The Company’s activities are structured in four business segments: Oil and Gas Exploration and Production, including the acquisition, exploration, exploitation and maintenance of oil and gas reserves; Refining and Distribution, processing and marketing of petroleum products; Petrochemicals, comprising the production of styrene, polystyrene, bi-oriented polystyrene (BOPS) and synthetic rubber; as well as Gas and Energy, providing gas distribution, as well as fossil fuel and hydroelectric power energy generation.
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