Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Announces Variable Dividend of $0.34

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a Variable dividend on Friday, April 26th, investing.com reports. Stockholders 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 of this dividend is Friday, May 3rd.

Petróleo Brasileiro S.A. – Petrobras has increased its dividend by an average of 46.8% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE PBR opened at $16.93 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.96 and a quick ratio of 0.73. The company’s 50-day moving average price is $15.91 and its 200 day moving average price is $15.94. Petróleo Brasileiro S.A. – Petrobras has a 52 week low of $10.01 and a 52 week high of $17.91.

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

Analyst Upgrades and Downgrades

PBR has been the subject of several recent research reports. UBS Group raised their price target on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, March 25th. Bank of America cut 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. Finally, Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a research report on Monday, March 11th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.76.

About Petróleo Brasileiro S.A. – Petrobras

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.