Principal Financial Group Inc. Raises Stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Principal Financial Group Inc. increased its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,486 shares of the oil and gas exploration company’s stock after acquiring an additional 1,381 shares during the quarter. Principal Financial Group Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $559,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Summit Global Investments purchased a new position in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at approximately $1,625,000. Fiera Capital Corp increased its position in shares of Petróleo Brasileiro S.A. – Petrobras by 59.8% in the third quarter. Fiera Capital Corp now owns 100,109 shares of the oil and gas exploration company’s stock valued at $1,443,000 after buying an additional 37,475 shares in the last quarter. Assetmark Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 4.8% in the 3rd quarter. Assetmark Inc. now owns 939,864 shares of the oil and gas exploration company’s stock worth $13,543,000 after buying an additional 43,433 shares in the last quarter. Ted Buchan & Co acquired a new stake in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at about $1,939,000. Finally, Axxcess Wealth Management LLC purchased a new position in Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter valued at about $174,000.

Analyst Ratings Changes

Several brokerages have issued reports on PBR. StockNews.com downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group upped their target price on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday. Finally, Hsbc Global Res upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.81.

Petróleo Brasileiro S.A. – Petrobras Trading Down 1.0 %

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $12.85 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.55 and a fifty-two week high of $17.44. The business’s fifty day moving average is $13.73 and its two-hundred day moving average is $14.10. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The firm has a market cap of $82.78 billion, a PE ratio of 5.02, a P/E/G ratio of 0.18 and a beta of 1.39.

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.