Oslo Asset Management Asa Raised Its Petroleo Brasileiro S.A. (PBR) Stake by $3.04 Million; Diageo P L C (DEO) Shareholder Nuance Investments Has Decreased Its Stake

April 20, 2018 - By Adrian Mccoy

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Nuance Investments Llc decreased its stake in Diageo P L C (DEO) by 1.93% based on its latest 2017Q4 regulatory filing with the SEC. Nuance Investments Llc sold 9,738 shares as the company’s stock declined 7.16% with the market. The institutional investor held 494,745 shares of the beverages (production and distribution) company at the end of 2017Q4, valued at $72.25M, down from 504,483 at the end of the previous reported quarter. Nuance Investments Llc who had been investing in Diageo P L C for a number of months, seems to be less bullish one the $82.77 billion market cap company. The stock decreased 1.00% or $1.39 during the last trading session, reaching $137.9. About 192,414 shares traded. Diageo plc (NYSE:DEO) has risen 14.00% since April 20, 2017 and is uptrending. It has outperformed by 2.45% the S&P500.

Oslo Asset Management Asa increased its stake in Petroleo Brasileiro S.A. (PBR) by 32.48% based on its latest 2017Q4 regulatory filing with the SEC. Oslo Asset Management Asa bought 304,100 shares as the company’s stock rose 39.74% while stock markets declined. The institutional investor held 1.24 million shares of the oil & gas production company at the end of 2017Q4, valued at $12.77M, up from 936,400 at the end of the previous reported quarter. Oslo Asset Management Asa who had been investing in Petroleo Brasileiro S.A. for a number of months, seems to be bullish on the $91.54 billion market cap company. The stock decreased 1.84% or $0.27 during the last trading session, reaching $14.11. About 1.40M shares traded. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has risen 52.40% since April 20, 2017 and is uptrending. It has outperformed by 40.85% the S&P500.

Nuance Investments Llc, which manages about $507.52M and $1.50B US Long portfolio, upped its stake in Cerner Corp (NASDAQ:CERN) by 231,698 shares to 283,949 shares, valued at $19.14 million in 2017Q4, according to the filing. It also increased its holding in Smith & Nephew Plc (NYSE:SNN) by 484,016 shares in the quarter, for a total of 2.04M shares, and has risen its stake in Abbott Labs (NYSE:ABT).

Among 26 analysts covering Diageo (NYSE:DEO), 16 have Buy rating, 3 Sell and 7 Hold. Therefore 62% are positive. Diageo had 42 analyst reports since July 31, 2015 according to SRatingsIntel. Jefferies maintained Diageo plc (NYSE:DEO) rating on Thursday, September 28. Jefferies has “Buy” rating and $155.4 target. The rating was maintained by Kepler Cheuvreux on Friday, July 31 with “Hold”. Goldman Sachs upgraded Diageo plc (NYSE:DEO) on Tuesday, June 28 to “Neutral” rating. The stock of Diageo plc (NYSE:DEO) earned “Buy” rating by Sterne Agee CRT on Tuesday, July 21. The stock of Diageo plc (NYSE:DEO) earned “Buy” rating by HSBC on Wednesday, October 26. Liberum Capital downgraded the shares of DEO in report on Monday, January 30 to “Sell” rating. The firm has “Outperform” rating given on Friday, September 11 by BNP Paribas. The firm has “Overweight” rating given on Friday, November 20 by JP Morgan. Bank of America reinitiated Diageo plc (NYSE:DEO) on Friday, September 16 with “Buy” rating. The rating was downgraded by Goldman Sachs to “Sell” on Friday, March 31.

Oslo Asset Management Asa, which manages about $272.50M US Long portfolio, decreased its stake in Newpark Resources Inc (NYSE:NR) by 306,805 shares to 2.83M shares, valued at $24.36M in 2017Q4, according to the filing.

Among 14 analysts covering Petroleo Brasileiro Petrobras SA (NYSE:PBR), 2 have Buy rating, 4 Sell and 8 Hold. Therefore 14% are positive. Petroleo Brasileiro Petrobras SA had 38 analyst reports since August 7, 2015 according to SRatingsIntel. On Wednesday, July 13 the stock rating was downgraded by Barclays Capital to “Underweight”. The rating was maintained by Barclays Capital on Wednesday, March 23 with “Equal-Weight”. The firm earned “Underperform” rating on Friday, September 11 by Credit Suisse. The company was maintained on Wednesday, April 19 by Credit Suisse. JP Morgan upgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) rating on Tuesday, May 24. JP Morgan has “Neutral” rating and $7.40 target. As per Friday, September 11, the company rating was downgraded by Bank of America. The stock of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) earned “Underweight” rating by on Monday, October 10. The firm has “Underperform” rating by Macquarie Research given on Wednesday, September 30. Credit Suisse maintained it with “” rating and $11 target in Thursday, March 23 report. Barclays Capital downgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) on Monday, October 12 to “Equal-Weight” rating.

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