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

Principal Financial Group Inc. trimmed its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 16.2% in the 3rd quarter, according to 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 quarter. Principal Financial Group Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PBR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $141,372,000. Encompass Capital Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the second quarter worth $73,174,000. Mondrian Investment Partners LTD boosted its holdings in Petróleo Brasileiro S.A. – Petrobras by 23.0% in the second quarter. Mondrian Investment Partners LTD now owns 10,099,766 shares of the oil and gas exploration company’s stock worth $144,124,000 after acquiring an additional 1,889,313 shares in the last quarter. Fisher Asset Management LLC grew its position in Petróleo Brasileiro S.A. – Petrobras by 13.1% during the 3rd quarter. Fisher Asset Management LLC now owns 15,819,647 shares of the oil and gas exploration company’s stock worth $227,961,000 after purchasing an additional 1,835,297 shares during the last quarter. Finally, Victory Capital Management Inc. raised 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 worth $54,278,000 after acquiring an additional 1,039,700 shares during the last quarter.

Petróleo Brasileiro S.A. – Petrobras Trading Down 1.7 %

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $13.02 on Monday. The stock has a market cap of $84.92 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 0.22 and a beta of 1.41. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.55 and a 12-month high of $17.91. The company has a fifty day simple moving average of $13.69 and a 200-day simple moving average of $14.31.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a dividend of $0.5338 per share. This represents a yield of 18.8%. The ex-dividend date of this dividend was Friday, December 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 57.81%.

Analyst Ratings Changes

Several research firms have commented on PBR. HSBC lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and upped their target price for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

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.