5 Cheap Stocks to Buy According to Billionaire Ken Fisher

3. Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Fisher Asset Management’s Stake Value: $452.807 million

Percentage of Fisher Asset Management’s 13F Portfolio: 0.28%

Number of Hedge Fund Holders as of Q3 2021: 23

Stock Price as of December 8, 2021: $11.15

Return since December 8. 2021: 83.4%

Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR), commonly known only as Petrobras, is a state-owned petroleum company in Brazil. Ken Fisher’s fund held nearly 44 million shares in the company worth more than $452 million by the end of the third quarter of 2021. Moreover, Fisher Asset Management decreased its stake in the company by 6% during the third quarter of 2021.

The company announced a net profit of $5.3 billion for Q3, which beat estimates by a wide margin due to the rising oil prices worldwide. In Q3 2021, Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) presented a mixed hedge fund sentiment, as 23 hedge funds out of the 867 in the Insider Monkey database reported having stakes in the company, down from 25 in the previous quarter. However, the total value of these stakes is over $3 billion as compared to $2.8 billion in the previous quarter.