Petroleo Brasileiro S.A.- Petrobras $PBR Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 32.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 182,727 shares of the oil and gas exploration company’s stock after acquiring an additional 44,733 shares during the period. Principal Financial Group Inc.’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $3,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBR. Inspire Investing LLC lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.8% in the 1st quarter. Inspire Investing LLC now owns 7,062 shares of the oil and gas exploration company’s stock valued at $147,000 after purchasing an additional 574 shares during the last quarter. Drum Hill Capital LLC increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the 1st quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company’s stock worth $2,746,000 after purchasing an additional 714 shares during the last quarter. Truist Financial Corp increased its position in shares of Petroleo Brasileiro S.A.- Petrobras by 2.6% during the 4th quarter. Truist Financial Corp now owns 32,726 shares of the oil and gas exploration company’s stock worth $388,000 after purchasing an additional 829 shares during the last quarter. Intrua Financial LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 3.7% in the 4th quarter. Intrua Financial LLC now owns 28,785 shares of the oil and gas exploration company’s stock valued at $341,000 after buying an additional 1,040 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% in the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,044 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Stock Up 3.0%

Shares of NYSE:PBR opened at $18.61 on Thursday. The firm has a market capitalization of $119.96 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.43 and a 1 year high of $22.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.49. The firm’s 50-day moving average is $17.76 and its two-hundred day moving average is $17.88.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. The business had revenue of $23.54 billion during the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 21.67% and a return on equity of 23.65%. Analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 4.28 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, June 3rd will be given a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 11.04%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PBR shares. Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, June 3rd. Bank of America raised shares of Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.28.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo 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.