Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Declares Special Dividend of $0.26

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) announced a special dividend on Friday, August 7th. Stockholders of record on Tuesday, August 25th will be given a dividend of 0.2649 per share by the oil and gas exploration company on Tuesday, December 1st. The ex-dividend date of this dividend is Tuesday, August 25th.

Petroleo Brasileiro S.A.- Petrobras has increased its dividend payment by an average of 0.3%annually over the last three years. Petroleo Brasileiro S.A.- Petrobras has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Petroleo Brasileiro S.A.- Petrobras to earn $3.53 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 12.2%.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

PBR stock opened at $19.13 on Friday. The firm has a 50 day simple moving average of $17.69 and a 200 day simple moving average of $18.44. Petroleo Brasileiro S.A.- Petrobras has a 52 week low of $11.43 and a 52 week high of $22.24. The stock has a market cap of $123.28 billion, a P/E ratio of 4.83, a P/E/G ratio of 0.78 and a beta of 0.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Analyst Ratings Changes

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

Petroleo Brasileiro S.A.- Petrobras Company Profile

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.