Petróleo Brasileiro S.A. – Petrobras (PBR) to Issue Variable Dividend of $0.34 on May 28th

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a Variable dividend on Friday, April 26th, investing.com reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.3406 per share by the oil and gas exploration company on Tuesday, May 28th. This represents a dividend yield of 16.25%. The ex-dividend date is Friday, May 3rd.

Petróleo Brasileiro S.A. – Petrobras has raised its dividend by an average of 46.8% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Petróleo Brasileiro S.A. – Petrobras has a dividend payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Petróleo Brasileiro S.A. – Petrobras to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 25.8%.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock traded up $0.01 on Wednesday, hitting $16.98. The company had a trading volume of 1,341,283 shares, compared to its average volume of 19,414,545. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $10.01 and a 12-month high of $17.91. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.65. The stock’s 50-day simple moving average is $15.92 and its 200 day simple moving average is $15.93. The stock has a market cap of $110.75 billion, a price-to-earnings ratio of 4.44, a P/E/G ratio of 0.18 and a beta of 1.46.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.15. The company had revenue of $27.11 billion for the quarter, compared to analysts’ expectations of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. As a group, equities research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on PBR shares. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, March 25th. Bank of America lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Friday, March 8th. UBS Group increased their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, Morgan Stanley downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $18.00 in a report on Monday, March 11th. Four research analysts have rated the stock with a hold rating and six have given 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 $16.76.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.