5 Oversold Blue Chip Stocks to Buy Right Now

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In this article, we will take a look at the 5 oversold blue chip stocks to buy right now. To read our analysis of the recent trends and market activity, you can go to the 11 Oversold Blue Chip Stocks to Buy Right Now.

5. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

14-day RSI: 32.01

Number of Hedge Fund Holders: 36

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is a Brazilian company and one of the largest oil and gas producers in the world, mainly dedicated to exploration and production, refining, energy generation and marketing.

On March 7, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) released its financial results for Q4 2023. Its revenue declined by 10% y-o-y to $27.1 billion, while net income shrunk 24% y-o-y to $6.3 billion.

According to the Insider Monkey data on 933 leading hedge funds, 36 hedge funds were long Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shares as of Q4 2023, with the total shares held by hedge funds valued at $5.6 billion. Rajiv Jain’s GQG Partners was the lead hedge fund shareholder with ownership of 213.2 million shares valued at $3.4 billion.

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