Standard Life Investments LTD Trims Position in Petrobras Argentina S.A. (PZE)
Standard Life Investments LTD decreased its stake in shares of Petrobras Argentina S.A. (NYSE:PZE) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,143 shares of the oil and gas company’s stock after selling 38,269 shares during the period. Standard Life Investments LTD’s holdings in Petrobras Argentina were worth $1,000,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. World Asset Management Inc lifted its position in Petrobras Argentina by 0.3% during the 1st 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 in the last quarter. Comerica Bank lifted its position in Petrobras Argentina by 1.5% during the 1st quarter. Comerica Bank now owns 11,576 shares of the oil and gas company’s stock worth $132,000 after buying an additional 172 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Petrobras Argentina during the 2nd quarter worth about $266,000. Private Advisory Group LLC acquired a new position in Petrobras Argentina during the 1st quarter worth about $254,000. Finally, Cowen Group Inc. lifted its position in Petrobras Argentina by 198.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 3.42% of the company’s stock.
Petrobras Argentina S.A. (NYSE PZE) opened at 12.26 on Friday. The firm’s market cap is $2.48 billion. Petrobras Argentina S.A. has a 12 month low of $4.66 and a 12 month high of $13.47. The company’s 50-day moving average is $11.96 and its 200 day moving average is $11.64.
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Several research analysts recently issued reports on PZE shares. ValuEngine upgraded shares of Petrobras Argentina from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Petrobras Argentina from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
About Petrobras Argentina
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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