Petrobras Boosts Treasury Shares in June

Petroleo Brasileiro SA- Petrobras (PBR) has released an update.

In June 2024, Petrobras, the Brazilian oil giant, reported significant stock purchases of its own shares, designated as PETR4, through Bradesco S/A Corretora de Títulos e Valores Mobiliários, with a total volume of transactions reaching hundreds of millions of Reais. The series of buy transactions led to an increase in the company’s treasury shares, now representing 2.8% of the same class of shares and 1.2% of its total capital. This strategic move by Petrobras is indicative of its financial maneuvering and could signal confidence in its own stock value to investors.

For further insights into PBR stock, check out TipRanks’ Stock Analysis page.