Principal Financial Group Inc. Sells 8,167 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Principal Financial Group Inc. trimmed its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 16.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,105 shares of the oil and gas exploration company’s stock after selling 8,167 shares during the period. Principal Financial Group Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $607,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PBR. Mondrian Investment Partners LTD raised its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 23.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock valued at $144,124,000 after purchasing an additional 1,889,313 shares during the period. Encompass Capital Advisors LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at approximately $73,174,000. Victory Capital Management Inc. lifted its stake in Petróleo Brasileiro S.A. – Petrobras by 38.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,745,895 shares of the oil and gas exploration company’s stock valued at $54,278,000 after acquiring an additional 1,039,700 shares in the last quarter. Earnest Partners LLC boosted its position in Petróleo Brasileiro S.A. – Petrobras by 4.8% during the 1st quarter. Earnest Partners LLC now owns 3,276,414 shares of the oil and gas exploration company’s stock worth $49,834,000 after acquiring an additional 151,056 shares during the last quarter. Finally, Perpetual Ltd grew its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 0.9% during the 3rd quarter. Perpetual Ltd now owns 3,152,289 shares of the oil and gas exploration company’s stock worth $45,424,000 after acquiring an additional 29,267 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group dropped their target price on Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price target for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group upped their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $20.00 in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of NYSE PBR opened at $14.90 on Friday. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $12.90 and a 12 month high of $17.91. The stock has a 50 day moving average of $14.25 and a 200-day moving average of $14.63. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $97.18 billion, a P/E ratio of 5.82, a P/E/G ratio of 0.21 and a beta of 1.39.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, December 27th will be issued a $0.227 dividend. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. This represents a dividend yield of 16.3%. The ex-dividend date of this dividend is Friday, December 27th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 38.67%.

Petróleo Brasileiro S.A. – Petrobras Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.