Pampa Energia S.A. $PAM Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Pampa Energia S.A. (NYSE:PAM) by 62.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,202 shares of the utilities provider’s stock after selling 10,329 shares during the period. Pictet Asset Management Holding SA’s holdings in Pampa Energia were worth $549,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in Pampa Energia by 85.4% during the 1st quarter. Millennium Management LLC now owns 162,521 shares of the utilities provider’s stock worth $12,547,000 after purchasing an additional 74,841 shares during the period. Jane Street Group LLC raised its stake in shares of Pampa Energia by 44.1% during the 1st quarter. Jane Street Group LLC now owns 19,607 shares of the utilities provider’s stock worth $1,514,000 after buying an additional 6,005 shares during the last quarter. Marshall Wace LLP raised its position in Pampa Energia by 21.7% during the second quarter. Marshall Wace LLP now owns 57,153 shares of the utilities provider’s stock worth $3,965,000 after acquiring an additional 10,195 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Pampa Energia in the 2nd quarter valued at approximately $578,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Pampa Energia in the second quarter worth $379,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Marcos Marcelo Mindlin sold 1,800,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $3.48, for a total value of $6,264,000.00. Following the sale, the director owned 24,971,973 shares of the company’s stock, valued at approximately $86,902,466.04. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Damian Miguel Mindlin sold 555,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $3.55, for a total value of $1,970,250.00. Following the transaction, the insider owned 12,541,870 shares of the company’s stock, valued at approximately $44,523,638.50. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders acquired 1,710,694 shares of company stock valued at $7,701,005 and sold 11,582,000 shares valued at $40,178,070. Insiders own 55.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Pampa Energia from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Zacks Research raised Pampa Energia from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings restated a “hold (c)” rating on shares of Pampa Energia in a report on Friday, June 12th. JPMorgan Chase & Co. upped their price target on Pampa Energia from $97.50 to $101.50 and gave the stock a “neutral” rating in a report on Monday, June 1st. Finally, HSBC raised shares of Pampa Energia from a “hold” rating to a “buy” rating and upped their price objective for the company from $88.00 to $97.00 in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Pampa Energia currently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Pampa Energia Trading Down 1.3%

Pampa Energia stock opened at $81.39 on Friday. Pampa Energia S.A. has a 1 year low of $54.95 and a 1 year high of $94.50. The firm’s 50-day moving average is $82.73 and its 200-day moving average is $83.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.78 and a current ratio of 2.04. The company has a market cap of $4.37 billion, a P/E ratio of 10.15, a PEG ratio of 2.86 and a beta of 0.97.

Pampa Energia (NYSE:PAM) last announced its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $4.00 earnings per share for the quarter. The business had revenue of $573.00 million during the quarter. Pampa Energia had a net margin of 20.31% and a return on equity of 12.23%. On average, equities analysts expect that Pampa Energia S.A. will post 9.89 earnings per share for the current year.

About Pampa Energia

Pampa Energía SA is Argentina’s largest independent energy company, with integrated operations spanning electricity generation, transmission, distribution and oil and gas activities. The company holds a diversified portfolio of thermal and hydroelectric power plants, along with growing investments in renewable energy projects, serving both domestic and regional markets.

In its electricity business, Pampa Energía develops and operates plants that supply energy to Argentina’s power grid.