A 1.1 million share position in Petrobras (PBR) has recently been established by George Soros.  The state run oil and gas company, Petrobras shares have not kept up with other oil company stocks due to the Brazilian Government diluting the stock last year to fund the acquisition of an offshore driller.  Petrobas is now trading at just over $34 a share.  The year high for Petrobras was almost $43 a share with the year low at $31.21.  It has not kept pace with the rise in oil or other commodities such as GLD and SLV.  Petrobras has a very low institutional ownership rate of only 9 percent.   For those looking for income, Petrobras pays a dividend that yields 4.2 percent.  With his buy of Petrobas (PBR), Soros is staking a position that oil will continue to rise.   Petrobras is a good opportunity for those wanting an oil stock to buy that is a major but that is not trading at its year high.  United States Oil (NYSE: USO), the major oil exchange traded fund, closed on Friday June 3 at $39.66, up from its year low of $31.50.  Chevron (NYSE: CVX) closed the same day at $101.00, up from its year low of $66.83.