Principal Financial Group Inc. Decreases Stake in Petroleo Brasileiro S.A.- Petrobras $PBR

Principal Financial Group Inc. cut its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 17.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,028 shares of the oil and gas exploration company’s stock after selling 31,699 shares during the quarter. Principal Financial Group Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,441,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 51.6% in the fourth quarter. Capital International Investors now owns 30,637,308 shares of the oil and gas exploration company’s stock valued at $363,052,000 after acquiring an additional 10,425,563 shares in the last quarter. Oaktree Capital Management LP acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $126,355,000. DJE Kapital AG acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $65,428,000. DNB Asset Management AS acquired a new position in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth approximately $21,778,000. Finally, Mondrian Investment Partners LTD increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 14.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 12,655,094 shares of the oil and gas exploration company’s stock valued at $149,963,000 after purchasing an additional 1,562,473 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR stock opened at $17.89 on Friday. The business has a 50 day moving average price of $17.63 and a 200 day moving average price of $18.32. The stock has a market cap of $115.26 billion, a price-to-earnings ratio of 4.52, a PEG ratio of 0.73 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.43 and a fifty-two week high of $22.24. The company has a quick ratio of 0.49, a current ratio of 0.85 and a debt-to-equity ratio of 0.64.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. The company had revenue of $23.54 billion for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 24.52% and a return on equity of 30.61%. Equities research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 4.63 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 8.59%.

Analysts Set New Price Targets

PBR has been the topic of a number of analyst reports. Zacks Research lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. cut their price target on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.