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

Principal Financial Group Inc. lessened its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 16.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBR. Rakuten Securities Inc. increased its stake in Petróleo Brasileiro S.A. – Petrobras by 58.2% in the third quarter. Rakuten Securities Inc. now owns 112,624 shares of the oil and gas exploration company’s stock valued at $1,623,000 after acquiring an additional 41,447 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 18.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,696,360 shares of the oil and gas exploration company’s stock valued at $24,445,000 after acquiring an additional 265,560 shares during the period. Mackenzie Financial Corp lifted 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 worth $20,809,000 after buying an additional 39,682 shares during the period. Creative Planning increased its position in Petróleo Brasileiro S.A. – Petrobras by 31.6% during the 3rd quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock valued at $2,234,000 after purchasing an additional 37,181 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter worth $141,372,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PBR. The Goldman Sachs Group upped their price target 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. HSBC cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report 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 price objective for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.24.

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

NYSE PBR opened at $13.02 on Monday. 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 stock’s 50 day moving average is $13.69 and its 200 day moving average is $14.31. The stock has a market cap of $84.92 billion, a PE ratio of 5.09, a P/E/G ratio of 0.22 and a beta of 1.41.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

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

About Petróleo Brasileiro S.A. – Petrobras

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.