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

Principal Financial Group Inc. lowered its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 16.2% in the third quarter, Holdings Channel reports. The institutional investor 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 filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 2.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock valued at $20,809,000 after purchasing an additional 39,682 shares during the period. Diversified Trust Co boosted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 127.1% in the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock valued at $1,987,000 after buying an additional 76,752 shares during the period. Creative Planning grew its position in Petróleo Brasileiro S.A. – Petrobras by 31.6% during the third quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock worth $2,234,000 after buying an additional 37,181 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter worth $1,521,000. Finally, Artemis Investment Management LLP raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 5.1% in the 3rd quarter. Artemis Investment Management LLP now owns 3,044,971 shares of the oil and gas exploration company’s stock valued at $43,878,000 after acquiring an additional 146,590 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently issued reports on PBR shares. UBS Group reduced 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. HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley raised shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $20.00 in a report on Monday, August 26th. Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $16.50 to $19.00 in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

NYSE PBR opened at $14.90 on Friday. The firm’s fifty day moving average price is $14.25 and its two-hundred day moving average price is $14.63. The stock has a market cap of $97.18 billion, a PE ratio of 5.82, a PEG ratio of 0.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.90 and a fifty-two week high of $17.91.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The company also recently disclosed a Variable dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, December 27th will be given a dividend of $0.227 per share. The ex-dividend date is Friday, December 27th. This represents a yield of 16.3%. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 38.67%.

Petróleo Brasileiro S.A. – Petrobras Company 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.